Bank of America and Goldman Sachs are reportedly considering donations to President-elect Donald Trump’s inaugural committee, following past contributions by major financial institutions. The amounts remain undecided, sparking discussion about corporate engagement in presidential transitions.
Bank of America Securities analyst Ebrahim H. Poonawala raised his price target on Wells Fargo & Company (WFC) to $84, citing the bank’s progress in achieving high-teens return on average tangible common equity (ROTCE). The analyst believes the removal of the 2018 asset cap in early 2025 will be a significant catalyst for the stock, attracting new investors and potentially driving a re-rating of its valuation.
Bank of America shares are riding high following Donald Trump’s re-election victory, fueled by optimism for policies that could benefit the banking sector. However, the Federal Reserve’s interest rate cut has somewhat tempered the stock’s gains. This article explores the factors driving Bank of America’s performance, including potential tax cuts, deregulation, and infrastructure spending.
Bank of America CEO Brian Moynihan has cautioned the Federal Reserve against overly aggressive interest rate cuts, expressing concerns about the potential for a miscalculation. He anticipates further rate cuts but advocates for a measured approach to avoid a recession. Moynihan also predicts a ‘no landing’ scenario for the U.S. economy, with continued growth and a strong labor market.
Gold prices have hit record highs, driven by rising inflation expectations, the Federal Reserve’s policy shifts, and concerns over US fiscal sustainability. Bank of America forecasts gold to reach $3,000 per ounce by the first half of 2025, highlighting its appeal as a safe haven asset amid global economic uncertainties.
Bank of America Corporation (BAC) reported strong third-quarter earnings, exceeding analysts’ expectations. The company’s net interest income, driven by strong trading and investment banking results, saw positive growth. Analysts remain optimistic about the bank’s future performance, citing factors like a potential resurgence in M&A activity and continued stability in consumer spending.
Celsius Holdings (CELH) shares are trading lower today as Bank of America downgraded its sales estimates for the company, citing excess inventory and slower growth. The bank also lowered its EBITDA and EPS estimates, highlighting concerns about Celsius’s inventory management. However, Bank of America remains optimistic about Celsius’s long-term prospects, expecting the company to continue investing in marketing to drive demand for its products.
US stocks were mixed on Tuesday, with the Dow Jones index falling over 200 points. The energy sector weighed heavily on the market, while real estate shares rose. Bank of America reported better-than-expected earnings for the third quarter, driving its stock higher. Several other stocks saw significant price swings, with Zapata Computing Holdings Inc. leading the gains and Seelos Therapeutics, Inc. experiencing a sharp decline.
Major US banks are reporting strong third-quarter earnings, driving the Financial Select Sector SPDR Fund (XLF) to new highs. Goldman Sachs, Bank of America, Citigroup, and Charles Schwab all beat analyst expectations, highlighting the robust health of the financial sector.
As U.S. stock futures trade mixed on Tuesday, investors are keeping a close eye on several key companies set to release their quarterly earnings reports. Citigroup, Bank of America, Goldman Sachs, Walgreens Boots Alliance, and UnitedHealth Group are among the names to watch, with analysts providing insights into their expected performance.
