BofA is among the large lenders, including rival JPMorgan, that are weighing the potential for the U.S. Federal Reserve to cut interest rates this year. The move could crimp banks' income from interest payments, but could potentially spur economy activity and borrower demand. BofA's net interest income (NII) -- the difference between what it earns on loans and pays for deposits -- slid 3% to $14 billion in the quarter due to higher deposit costs and modest loan growth.
These are some of the stocks posting the largest moves in midday trading.
The WSJ reported that regulators are studying whether Morgan Stanley has been adequately investigating prospective client identities and the sources of their
NEW YORK (AP) — Bank of America said its first-quarter profits fell 18%, as the bank dealt with rising expenses due to the impact of higher interest rates. But the results beat analysts’ esti
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Kansas Attorney General Kris Kobach is sending a letter to Bank of America's CEO seeking answers. His letter was co-signed by officials from a dozen Republican-led states. It details how the bank appears to discriminate against Christians. Read More: House Republicans reveal federal government probe into consumers' transactions containing terms 'MAGA' and 'Trump'
Will Bank of America follow rivals in posting better-than-expected Wall
US stocks fell on Wednesday, struggling to mount a comeback as investors’ interest rate worries coincided with a fresh slate of corporate earnings. After all three major indexes started the day in the green, the S&P 500 (^GSPC) ended down about 0.6%. The Dow Jones Industrial Average (^DJI) lost a more modest 0.1%. Meanwhile, the […]
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