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The Latest Breaking News from Bank of America

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."

Fortune

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

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

Kiplinger

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

The Independent UK

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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.

Chicago Sun-Times

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.

Kiplinger

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.

Barchart

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

The Guardian - UK

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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.

Chicago Sun-Times

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.

WEKU

Bank of America to pay more than $100M for doubling fees, opening accounts without customer consent

Bank of America is being ordered to pay more than $100 million to customers for double-dipping on some fees, withholding reward bonuses and opening some accounts without customer consent

The Independent UK

Stocks Climb as Bond Yields Fall on Signs of Lower Price Pressures

What you need to know… The S&P 500 Index ($SPX ) (SPY ) Monday closed up +0.24%, the Dow Jones Industrials Index ($DOWI ) (DIA ) closed up +0.62%, and the Nasdaq 100 Index ($IUXX ) (QQQ ) closed up +0.06%. Stock indexes Monday settled mixed, with the Nasdaq 100...

Barchart

Amazon Prime Day is the most international it's ever been

Amazon executives reveal the company's international Prime expansion strategy.

Axios

Markets Today: Stocks Mixed Despite Expectations for Further Fed Rate Hikes

Morning Markets The S&P 500 Index ( $SPX ) ( SPY ) is up +0.21%, the Dow Jones Industrials Index ( $DOWI ) ( DIA ) is up +0.58%, and the Nasdaq 100 Index ( $IUXX ) ( QQQ ) is down -0.13%. U.S. stock indexes this morning are mixed....

Barchart

Markets Today: Stocks Slightly Lower on Expectations for Further Fed Rate Hikes

Morning Markets September E-Mini S&P 500 futures (ESU2 3) this morning are down -0.06% at a 1-week low, and Sep Nasdaq 100 E-Mini futures (NQU2 3) are down -0.12% at a 1-week low. U.S. stock index futures this morning are slightly lower. September E-Mini S&P 500 futures and Sep Nasdaq...

Barchart

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Fortune

3 things that could still go wrong for the U.S. economy, Bank of America’s chief economist says

Despite recent bullish economic data, Michael Gapen says he still expects a “mild recession” by the start of 2024.

Tribune News Service

The fight for COLA: Why the UAW is pushing hard to restore long-lost benefit

DETROIT — Rob Pacheco estimates that he brought home more money 20 years ago than he does today because of concessions autoworkers made to help save the U.S. auto industry during the Great Recession.

StockNews.com

Should You Put Your Money Into Bank of America (BAC) Stock This Week?

After months of turmoil, the U.S. banking sector is showing some signs of stability. Bank of America (BAC), the second-largest U.S. bank by assets, is stuck with more than $100 billion in paper losses at the end of the first quarter. However, the bank has substantial cash reserves to handle…

InsideEVs

Tesla To Lose Significant EV Market Share To Ford, GM By 2026: Report

Tesla could lose ground to Ford and GM as per Bank of America's Car Wars report, while EVs remain on track to grab a broader market share

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WEKU

What recession? Why stocks are surging despite warnings of doom and gloom

Halfway through the year, hopes about AI and a sturdier-than-expected economy are leading to a big rally in stock markets — but a lot of uncertainty still lies ahead.

Los Angeles Times

These high school grads are the COVID Class of 2023 and have the stories to prove it

It had only been a week since graduation and these teenagers were giddy. Summer sprawled out in front of them. College is just a few months away — a future some still can't believe will be theirs.

Barchart

3 Unusually Active Call Options to Buy for 1% Down

Nearly midway through Thursday trading, 109 calls are exhibiting unusual options activity. Seventy-six of them have ask prices of $1 or less.

USA Today Sports Media Group

Bank of America Stadium installs natural grass for Gold Cup matches

Once again, it's the fútbol players—not the football players—who will be playing on natural grass at Bank of America Stadium.

Fortune

Morgan Stanley says commercial real estate will crash harder than during the Great Financial Crisis. Here’s how 5 other top institutions see it playing out

There’s one thing they can all agree on: Office properties are in trouble.

Fortune

Nearly 60% of internet users in the U.S. use ChatGPT—survey

A new survey by Bank of America finds that generative A.I. search chatbots, like ChatGPT, Microsoft’s Bing, and Google’s Bard, are catching on with Americans.

Fortune

Are you using your credit card to its full advantage? Here are 7 perks yours might offer

From cell phone protection to airport lounge access, these added credit card features could save you a ton of money each year.

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