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’ estimates. The Charlotte, North Carolina-based bank posted a profit of $6.67 billion, or 76 cents per share, compared with $8.2 billion, or … Read more
Dow futures popped on Tuesday, with US stocks eyeing a broader comeback as a wave of earnings reports lifted a market faced with bond yields at multimonth highs and rising tensions in the Middle East. Dow Jones Industrial Average (^DJI) futures gained 0.6%, coming off a six-session run of losses. Futures on the S&P 500 … Read more
Bank of America (BAC) said Tuesday that first-quarter profits dropped 18% from a year ago as a key revenue source weakened, offering the latest example of how even the biggest banks are increasingly challenged by high interest rates. Net interest income at Bank of America fell 3% from the year-earlier period “as higher deposit costs … Read more
Investors try to pick winning stocks that can put up strong returns over long periods of time. In the past couple of decades, the tech and internet sectors have been a hotbed for these opportunities. Just look at Amazon (NASDAQ: AMZN). Since its initial public offering in May 1997, the e-commerce and cloud computing giant … Read more
Investors love their long-term gains, but short-term investors can’t stand volatility. And that very fear on the part of shorter-term-minded investors, particularly people nearing retirement, can potentially offer huge opportunities for investors with a long-term mindset. The best-performing sector in the market over the past 10 years offers such an opportunity. While many investors often … Read more
Artificial intelligence (AI) is revolutionizing the technology landscape. Its potential to improve productivity recently led JPMorgan Chase CEO Jamie Dimon to write, “We are completely convinced the consequences will be extraordinary and possibly as transformative as some of the major technological inventions of the past several hundred years.” He specifically mentioned the discovery of electricity … Read more
The S&P 500 has done well lately. Over the last year, the index has gained about 25%. But certain stocks have been left behind. During this span, Coca-Cola‘s (NYSE: KO) share price lost 7%. A stock lagging the market doesn’t necessarily translate into a buying opportunity. After all, the stock market has proven pretty efficient. … Read more
(Bloomberg) — Bitcoin selling may become evident as the date of the so-called halving nears but the event is set to bolster the price of the largest digital asset longer term, according to the head of the Crypto.com exchange. Most Read from Bloomberg The halving reduces new supply of Bitcoin and is expected around April … Read more
(Bloomberg) — Xiaomi Corp.’s roaring entry into the electric vehicle market is dimming the recovery outlook for China’s beaten down auto startups. Most Read from Bloomberg Hype around the launch and better-than-expected initial orders for the SU7 have helped a rally in Xiaomi shares gain momentum. Investors have meanwhile ramped up bets on further declines … Read more
(Bloomberg) — BlackRock Inc.’s co-founder sees markets primed for a comeback. Most Read from Bloomberg There’s almost $9 trillion right now sitting in money market funds, and the same amount sitting in cash alternatives at banks, Robert Kapito, president of the world’s largest asset manager, said at the Asia Pacific Financial and Innovation Symposium in … Read more