Category: BofA
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BofA says Trump will backstop stocks this year, but to closely watch one key area of the market
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Angela Weiss/AFP Bank of America sees penny stocks as a leading indicator to watch in the broader stock market. High concentration in a few stocks and high valuations are limiting the stock market’s upside, Bank of America said. Small-cap stocks face challenges from rising interest rates, which impacts non-profitable companies.…
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JPMorgan, Wells Fargo, BofA facing federal lawsuit over Zelle payment network fraud
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A federal regulator sued JPMorgan Chase, Wells Fargo and Bank of America on Friday, alleging that the banks failed to protect hundreds of thousands of consumers from rampant fraud on the popular payments network Zelle, in violation of consumer financial laws. In the federal civil complaintThe Consumer Financial Protection Bureau…
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Investors’ allocation to US stocks hits record high amid ‘super-bullish sentiment’: BofA survey
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Investors are growing increasingly optimistic as the stock market continues to rise through the end of 2024. In Bank of America’s December global fund managers survey, 36% of respondents said they overweight US stocks, the highest level seen in the survey’s history. This major shift in US stocks came alongside…
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The Earnings calendar this week includes Citi, BofA, J&J, Goldman, United, TSMC & Netflix
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Earnings season kicked off last weekend, led by JP Morgan and Wells Fargo. More financial data will be announced this week along with companies like United, Johnson & Johnson, Taiwan Semi Conductor and Netflix also on the release calendar. Below is a list of some major companies that announce their…
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The Earnings calendar this week includes Citi, BofA, J&J, Goldman, United, TSMC & Netflix
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Earnings season kicked off last weekend, led by JP Morgan and Wells Fargo. More financial data will be announced this week along with companies like United, Johnson & Johnson, Taiwan Semi Conductor and Netflix also on the release calendar. Below is a list of some major companies that announce their…
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US inflation data due this week: BofA predicts a +0.1% m/m headline CPI, +0.3% m/m core
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This information comes via eFX. **** summary: Bank of America expects a modest rise in both the headline and core CPI for September, suggesting flat core inflation with no immediate cause for concern. Key points: CPI Outlook: Bank of America expects a 0.1% MoM increase in the headline CPI and…
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Warren Buffett’s BofA stock-selling spree surpasses $10 billion
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Warren Buffett’s group added another zero to its portfolio from a months-long selling spree in Bank of America Corp shares. In its 14th round of disposals, Berkshire Hathaway surpassed $10 billion in gross proceeds from trimming its stake in the second-largest U.S. bank, a regulatory filing showed Monday. Buffett, 94,…
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Earnings season could be a stock picker’s paradise: BofA By Investing.com
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Investing.com – Bank of America said in a recent note that the upcoming earnings season could be a “stock picker’s paradise.” According to strategists at Bank of America, while market returns were largely driven by multiples in 2022-23, earnings are starting to play a more significant role in 2024, accounting…
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3 cheap areas of the stock market to buy as the Fed unveils a ‘rare double whammy’ of stimulus, BofA says
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Ismagilov/Getty, Yellow Duck/Getty, Tyler Low/PI Bank of America said investors should snap up value stocks in three specific sectors. The company says it is poised to outperform as the Federal Reserve cuts interest rates while corporate profits continue to accelerate. Savita Subramanian, head of US equity strategy, refers to the…
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BofA: Chart: Go short gold vs. silver. Entry, target, stop, and rationale
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Bank of America recommends shorting gold against silver at 83.50, with a target of 78.50/75.00 and a stop of 87.50. Key points: gold: Price targets for 2024 at 2368, 2538 and 2643 have already been achieved, with the next target at approximately 2733. However, Bank of America advises against chasing…
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Sell an October election year seasonal bounce in US dollar: BofA By Investing.com
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Investing.com – Bank of America said in a note on Friday that investors should consider selling the US dollar during a potential rebound next October, driven by historical seasonal patterns and current technical indicators. According to Bank of America, while there may be an initial rise in the price of…
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Sell an October election year seasonal bounce in US dollar: BofA By Investing.com
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Investing.com – Bank of America said in a note on Friday that investors should consider selling the US dollar during a potential rebound next October, driven by historical seasonal patterns and current technical indicators. According to Bank of America, while there may be an initial rise in the price of…
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BofA: What we expect from this week’s ECB meeting
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Bank of America expects the European Central Bank to implement a 25 basis point cut in its deposit rate at its September meeting, with a modest negative impact on the euro due to the unchanged guidance and weaker growth outlook. Key points: Interest rate cut expectations: Deposit rate: It is…
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BofA raises UiPath stock target on strong Q2 results By Investing.com
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BofA Securities has revised its outlook on UiPath Inc. (NYSE: NYSE:), raising its price target to $18.00 from $16.00 previously, while maintaining a Neutral rating on the stock. This adjustment comes after UiPath released its second-quarter financial results, which showed that revenue and annual recurring revenue (ARR) exceeded expectations. UiPath’s…
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Billionaire Buffett again sells BofA shares worth about $845 million By Reuters
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(Reuters) – Warren Buffett’s Berkshire Hathaway Inc has further reduced its stake in Bank of America Corp by selling about $845 million in shares, a regulatory filing showed on Friday. The group run by one of the world’s most respected investors has sold more than $6 billion worth of shares…
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BofA likes the USD lower and GBP higher
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US Dollar: Bearish The central bank expects the US dollar to weaken in the medium term due to the expected rate cuts by the Fed and slowing growth in the US. However, the downside is somewhat balanced by the fact that a significant amount of easing has already been priced…
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BofA: The US dollar has rallied ahead of 10 of the past 13 elections
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Bank of America confirmed that the US Dollar Index (DXY) historically tends to rise from August until the US election day in November, indicating potential strength for the US dollar ahead of the upcoming elections. Key points: Seasonal trends: Since 1970, the US Dollar Index has shown strength in August,…
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Lower oil, Fed easing would support EM FX in hard landing: BofA By Investing.com
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Emerging market foreign exchange markets are expected to perform better in a potential hard landing scenario than in previous similar episodes, analysts at Bank of America Securities said in a note dated Tuesday. The note outlines the key shifts in the drivers of emerging market FX since the Covid-19 pandemic,…
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BofA is bullish on EUR/NZD amid RBNZ cut By Investing.com
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Bank of America (BofA) reported a growing consensus against the US dollar, with significant selling last week. Investors in both the US and Europe have been net short on the dollar over the year. Demand for US dollar put options has been on the rise. Bank of America highlighted a…
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BofA is bullish on EUR/NZD amid RBNZ cut By Investing.com
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Bank of America (BofA) reported a growing consensus against the US dollar, with significant selling last week. Investors in both the US and Europe have been net short on the dollar over the year. Demand for US dollar put options has been on the rise. Bank of America highlighted a…