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The Latest Breaking News from Bank of America

Goldman Sachs CEO is first bank leader to speak publicly on Trump shooting: America ‘cannot afford’ division and distrust

David Solomon and JP Morgan CEO Jaimie Dimon have both addressed the assassination attempt on former U.S. President Donald Trump.

The 'Magnificent Seven' have dragged the S&P to record highs. Will the moniker remain relevant?

The 'Magnificent Seven' have dragged the S&P to record highs. Will the moniker remain relevant?

Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla accounted for half of the S&P 500’s total gains last year, according to Morgan Stanley.

Apple stock might soar thanks to old iPhones

Apple stock might soar thanks to old iPhones

“An aging installed base and GenAI features…should provide a boost to customers' intentions to upgrade,” BofA’s Wamsi Mohan wrote Thursday.

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Apple stock to rise 11% BofA analysts predict, fueled by upgrades to AI iPhone

The bank’s global smartphone survey reveals a commitment among iPhone users to upgrade, eyeing soon-to-launch generative AI features.

Gen Z want to live in expensive cities—instead of moving to the outskirts, their parents are paying their rent

Young people have always wanted a bustling life and career in the city. The only problem? Gen Z can’t actually afford it.

Senators accuse JPMorgan’s Jamie Dimon of backtracking on climate commitments

Exclusive: Letter from senators, led by Elizabeth Warren, says JPMorgan may have misled investors and public

The Guardian - US

Small Business Rent Costs Rise, Wage Inflation Eases

Bank of America Institute data shows small businesses facing rent inflation challenges, with some relief from easing wage inflation and positive profit ind...

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Rent inflation remains a pressure point for small businesses

Rent inflation remains a pressure point for small businesses

Rent inflation remains a pressure point for small businesses

The Independent UK

AI Boom Disaster: Can The World's Power Grid Handle The Technology's Meteoric Rise?

AI Boom Disaster: Can The World's Power Grid Handle The Technology's Meteoric Rise?

AI technologies are the new trend contributing to increased power usage in the US, the previous being electric vehicles (EVs) and cryptocurrencies.

International Business Times UK

As job hopping slows, the median pay bump for changing employers has fallen from 20% to 10%

As job hopping slows, the median pay bump for changing employers has fallen from 20% to 10%

Pay increases when switching jobs are nothing compared to the highs of the Great Resignation, according to the Bank of America Institute.

US Appeals Court Overturns Dismissal In Antitrust Lawsuit Against Banks

US Appeals Court Overturns Dismissal In Antitrust Lawsuit Against Banks

US appeals court orders recusal of judge in antitrust lawsuit against major banks for overcharging investors on corporate bonds.

JPMorgan's Chief Strategist Reiterates Bearish Outlook, Says The S&P 500 Will Fall 23% By Year-end

JPMorgan's Chief Strategist Reiterates Bearish Outlook, Says The S&P 500 Will Fall 23% By Year-end

JPMorgan strategist Marko Kolanovic forecast a significant S&P 500 decline by year-end as US GDP growth in Q1 slowed considerably amid headwinds like downward earnings revisions.

International Business Times UK

Bank of America chart guru says today marks beginning of the S&P 500’s ‘strongest’ average 10-day period of the year…over 96 years

Bank of America chart guru says today marks beginning of the S&P 500’s ‘strongest’ average 10-day period of the year…over 96 years

Bank of America strategist Stephen Suttmeier says the S&P 500’s best performing 10-day period has started in July, going back to 1928.

London investment bankers to rake in bigger bonuses after two-year slump

London investment bankers to rake in bigger bonuses after two-year slump

Exclusive: Rise in dealmaking likely to be reflected in spring bonus season as interest rate hike cycle ends

The Guardian - UK

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Goldman Sachs was the ‘worst hit’ in the Fed's latest stress test of big banks. Bank of America still lists it as a buy

Goldman Sachs passed a recent Federal Reserve stress test, though it was harder hit than the other 30 banks tested, according to Bank of America analysts.

Amazon joins Google parent Alphabet with $2 trillion market cap

Google parent firm Alphabet hit a $2 trillion market cap earlier this year.

Amazon’s money-bleeding Alexa division could face more cuts if a paid version of its AI-enabled voice assistant flops, BofA says

“If Amazon does not see adoption of a paid tier … we think Amazon could cut Alexa investment further to reduce losses,” Bank of America analysts warned.

Bank of America tells Detroit’s Big 3 they can’t make money in China and should just leave the hypercompetitive car market ‘as soon as they possibly can’

BoA argues GM, Ford and Stellantis either face a future of funding continued losses in China or they can redeploy resources to finally become competitive with Tesla—but they can't do both.

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Rich Gen Zers and millennials are investing in jewelry, sneakers and fine wine instead of traditional assets, says Bank of America

And they feel better than anyone else about the state of the economy.

The raging bull market hasn’t peaked just yet, BofA says

Bank of America’s head of U.S. equity and quantitative strategy notes that only four out of 10 bull market peak indicators are flashing warning signs.

Bank of America says Broadcom could be the next trillion-dollar company—but rival Nvidia would still be 3 times larger

While Nvidia stands as the undisputed winner of the AI chip wars, it soon could have a rival.

The Guardian - UK

World’s top banks ‘greenwashing their role in destruction of the Amazon’

Institutions alleged to have given billions of dollars to oil and gas companies involved in projects that are harming the rainforests

The Independent UK

Coffee, sculptures and financial advice. Banks try to make new branches less intimidating

After years of closing or mostly neglecting physical bank branches across the U.S., the nation’s largest banks are spending hundreds of millions of dollars on refurbishing old locations or building new ones, and in the process changing the look, feel and purpose of the local bank branch

Bank of America Stock: Is BAC Outperforming the Financial Sector?

Bank of America's stock has been outperforming the broader financial sector, and Wall Street analysts are optimistic about the stock’s prospects.

Boston Marathon's new logo didn't need this corporate addition

A design steeped in meaning, but fans are unimpressed.

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