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The Latest Breaking News from Bank of America

Cash-strapped Americans are being forced to dip into their 401(k) retirement plan to make ends meet

Bank of America said more people had been taking hardship distributions from their retirement plans in recent months in a sign consumers may be running out of savings to propel economic growth.

Fortune

What Economists Expect When Key Inflation Data Arrives Thursday: Market Looks For Clues On The Fed’s Next Move

The Thursday release of the Consumer Price Index (CPI) report will bring pivotal data for markets

Zenger

Over $200 billion of Apple's market cap has been vaporized since Thursday. Here's what's going on

“The gravity of a challenging smartphone market particularly in developed regions that should continue…is a headwind for the stock,” UBS analyst David Vogt said.

Fortune

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Buy or Hold for August: Bank of America (BAC) vs. Wells Fargo & Company (WFC)

The Fed’s annual stress test showed that America’s largest banks, including Bank of America (BAC) and Wells Fargo & Company (WFC), were highly unlikely to stumble in a severe recession scenario. Both banks beat the consensus EPS and revenue estimates in the second quarter. So, which of these two banks…

StockNews.com

Bank Of America Retracts Recession Forecast, Citing Strong Job Market And Consumer Spending

BofA becomes the first major Wall Street bank to backtrack on recession prediction, reflecting growing economic optimism.

Zenger

Warren Buffett Advice: Why You Should Pick Businesses, Not Stocks

Can you beat the averages? Warren Buffett can. What can mere mortals learn from his success?

Kiplinger

US Regulators Propose Significant Capital Increase For Big Banks To Safeguard Against Future Crises

Financial stocks slump as watchdogs eye one of the biggest overhauls of how lenders are regulated since the 2008 financial crisis.

Zenger

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2 Underperforming Warren Buffett Stocks to Buy Now

Several Berkshire Hathaway holdings are underperforming the markets in 2023. Chevron and Bank of America are two underperforming Warren Buffett stocks worth buying at these levels.

Barchart

Big Oil’s War Against ‘Woke Capitalism’

The fossil fuel industry and right-wing activists are increasingly targeting investors that consider environmental and social issues — but is it working?

Capital & Main

Fed Set To Raise Rates, Uncertainty Looms For Stock Market

Investors await Fed Chair Powell's remarks for clues on future rate hikes.

Zenger

Markets Today: Stocks Climb Before Nasdaq 100 Rebalance

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are up +0.37%, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are up +0.62%. Stock indexes this morning are moderately higher. Tesla and Netflix are both moving higher in pre-market trading, recovering some of their sharp losses from Thursday...

Barchart

iPhone 15 release date could be delayed until October — here’s what we know

Apple may have to delay the iPhone 15 by a few weeks says a Bank of America analyst, the first to make such a claim.

Tom’s Guide

An Undervalued Warren Buffett Stock to Scoop Up Today

Warren Buffet's Berkshire Hathaway owns more than 179 million shares of this undervalued bank stock. Maybe you should too.

Barchart

Bank of America (BAC): What Should Investors Do With the Stock?

Bank of America (BAC), the second-largest U.S. bank by assets, beat Street revenue and earnings estimates in the second quarter but is stuck with more than $105 billion in unrealized losses. Moreover, the bank was slapped with refunds and fines worth $250 million earlier this month. In this piece, I…

StockNews.com

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Fortune

How 'Erica' helped power a 19% spike in earnings at Bank of America

Big banks are betting on innovation like A.I. to boost growth.

Zenger

Bank Of America CEO Highlights Stable Deposits And Healthy Consumers Amid Strong Quarterly Results

BofA's Q2 revenue beats estimates, client balances climb and loan demand remains steady.

Fortune

Office real estate values are moving down so fast that banking giants like Wells Fargo are already bracing for losses

Wells Fargo CEO Charlie Scharf: "we are reserving for the weakness that we expect to play out in that market over time."

Kiplinger

Stock Market Today: Stocks Rise on Bank Earnings, Retail Sales

The major benchmarks closed higher amid upbeat economic data and solid corporate earnings.

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news in one place.

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The Independent UK

Stock market today: Asian shares extend losses after China reports lower growth than expected

Shares are mostly lower in Asia as optimism over a Wall Street rally is countered by worries about the Chinese economy

Chicago Sun-Times

Bank of America’s misconduct goes against everything its founder stood for

Unlike many of America’s business titans, Amadeo Pietro Giannini was a paragon of ethics and excellence.

Kiplinger

Bank of America Fined Over Junk Fees, Fake Accounts. Customers Get $100M Payout

Bank of America was ordered to pay more than $100 million to customers for 'double-dipping' junk fees and denying rewards bonuses.

Barchart

Two Undervalued Warren Buffett Stocks to Buy in July 2023

Warren Buffett is among the best value investors of all time and looks at a “margin of safety” when buying companies. Here are the two Buffett stocks that look relatively undervalued in July 2023.

The Guardian - UK

Rising UK interest rates threaten Sunak’s fiscal plans, OBR to warn

Inflation and borrowing costs make it less likely PM will be able to tackle debt or cut tax

Chicago Sun-Times

Bank of America hit with $250M in fines, customer refunds for ‘double-dipping’ fees, fake accounts

It is one of the highest financial penalties in years against Bank of America, which has largely spent the last 15 years trying to clean up its reputation.

WEKU

Bank of America to pay $250 million for illegal fees, fake accounts

An investigation found that Bank of America raked in tens of millions of dollars in resubmitted insufficient funds fees. The bank also illegally opened credit cards without customers knowledge.

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