Jim Cramer says bank stocks are hard to own despite strong earnings

Jim Cramer stated that investors are punishing bank stocks even when earnings beat estimates; for example, Morgan Stanley fell nearly 3% on Wednesday after 12% revenue growth and beating forecasts, and Goldman Sachs lost 1.5% on Wednesday despite also beating estimates. Cramer attributes this sell-off to concerns over sticky inflation and climbing rates, not weak results. Morgan Stanley's third-quarter revenue reached $20.3 billion from $18.2 billion a year earlier, while client assets across wealth and investment management hit a record $10.5 trillion. Cramer noted that a resolution to the war in Iran could cool inflation, potentially allowing the Federal Reserve to pause rate hikes.