About this content About Stephen Gunnion Stephen Gunnion is a senior financial journalist and broadcaster at Proactive Investors. He has more than 25 years of experience in television, radio and print media, anchoring on a number of television channels including South Africa's Business Day TV, CNBC Africa and the South African Broadcasting Corporation, where he was the economics editor. He has also worked for Daily Maverick, Bloomberg, the Business Day newspaper and Investors' Chronicle. Read more About ...

Bank of America's fourth-quarter profit shrank as the lender took $3.7 billion in combined charges to refill a government deposit insurance fund and phase out a loan index. Its net interest income (NII) - the difference between what banks earn from loans and pay to depositors – fell 5% to $13.9 billion as the company spent more to keep customer deposits and demand for loans stayed subdued amid high interest rates.After a windfall year in 2023, BofA expects NII to dip to a trough in the first half of this ye ...

Bank of America Chairman and CEO Brian Thomas Moynihan speaks during the U.S. Senate Banking, Housing and Urban Affairs Committee oversight hearing on Wall Street firms, on Capitol Hill in Washington, U.S., December 6, 2023.Bank of America reported fourth-quarter earnings before the opening bell Friday.Here's what the company reported compared with what Wall Street analysts surveyed by LSEG, formerly known as Refinitiv, were expecting:Earnings: 70 cents, vs. expected 68 cents per shareBank of America stock ...

CHARLOTTE, N.C., Jan. 12, 2024 /PRNewswire/ -- Bank of America reported its fourth-quarter 2023 financial results today. The news release, supplemental filing and investor presentation can be accessed at Bank of America's Investor Relations website at https://investor.bankofamerica.com/quarterly-earnings. Investor Conference Call information: Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss the financial results in a conference call at 11 a.m. ET today. For ...

So much for Consumer Price Index (CPI) results providing the broader stock market with a particular direction — today’s closing bell shows all major indices basically flat. CPI data was a tad warmer than expected, offering an opportunity for market participants to reassess its dot-plot estimates for Fed interest rate moves throughout 2024. The Dow is +0.04% for the session, the S&P 500 closed -0.07%, and the Nasdaq came in at +0.004%. Only the small-cap Russell 2000 had a tougher time of it, -0.78%, as smal ...

Every three months, like clockwork, the earnings roll in.And every three months, the big banks usher in the “official” start of earnings season.Will it all begin with a bang or whimper? Friday will tell as J.P. Morgan, Wells Fargo and Bank of America weigh in with the initial salvo of statistics on everything from digital banking to loan performance to consumer spending across debit and credit cards.Consumer Spending in FocusJ.P. Morgan, the behemoth that has roughly 18% of the industry’s revenues under its ...

The big economic news of this week is finally here: the Consumer Price Index (CPI) for December. Results are decidedly warmer than had been expected on all metrics, but nothing apparently too dire. Pre-market futures dropped into negative trading territory immediately upon the report hitting the tape, but again without anything too alarming: the Dow is -42 points, the S&P 500 is -6 and the Nasdaq -5 points at this hour.December CPI on headline, month over month, was 10 basis points (bps) hotter than expecte ...

The big economic news of this week is finally here: the Consumer Price Index (CPI) for December. Results are decidedly warmer than had been expected on all metrics, but nothing apparently too dire. Pre-market futures dropped into negative trading territory immediately upon the report hitting the tape, but again without anything too alarming: the Dow is -42 points, the S&P 500 is -6 and the Nasdaq -5 points at this hour.December CPI on headline, month over month, was 10 basis points (bps) hotter than expecte ...

Big banks will start releasing their quarterly numbers this week. Let’s delve into the earnings potential of the big six banking companies that could drive the performance of the sector ahead.According to our methodology, a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) when combined with a positive Earnings ESP increases our chances of predicting an earnings beat, while companies with a Zacks Rank #4 or 5 (Sell rated) are best avoided. You can uncover the best stocks to buy or sell before they’re reported ...

We’re not completely devoid of new information in today’s pre-market: the early part of the year is big for convention-type events like the Consumer Electronics Show (CES) in Las Vegas, where A.I. is unsurprisingly taking center stage, being implemented in everything from automobile dashboards to home refrigerators. That said, pre-market indices are basically flat at this hour, following a mixed first couple trading days this week. Things will eventually pick up, but we need to be patient.Today we’ll see No ...