Latest Bank of America Corporation News

Asian shares slide after tech, bank sell-off on Wall Street

Apr. 20, 2021 23:26 PM EDT

BANGKOK (AP) — Shares skidded in Asia on Wednesday after Wall Street closed lower for a second straight day, led by drops in technology companies and banks. Worsening coronavirus outbreaks in Asia have cast a shadow over prospects for a rebound from the pandemic....

A year after stocks soared, CEOs must show it was warranted

Apr. 15, 2021 12:36 PM EDT

NEW YORK (AP) — It's time to show the receipts, CEOs. For more than a year, investors have been pushing up stock prices, even though the pandemic caused profits to crater for companies. With COVID-19 vaccines going into arms and businesses reopening, investors want to...

Bank of America profit doubles in 1Q to $8.1 billion

Apr. 15, 2021 07:49 AM EDT

NEW YORK (AP) — Bank of America's profits doubled in the first quarter, the bank said Thursday, as the improving economy allowed it to release billions from its loan-loss reserves that it originally set aside in the early days of the pandemic. Bank of America is the...

Banks to see big profits as COVID 'bad' loans become 'good'

Apr. 14, 2021 11:03 AM EDT

NEW YORK (AP) — The nation’s largest banks are expected to report big profits for the first quarter amid renewed confidence that pandemic-battered consumers and businesses can repay their debts and start borrowing again. The brighter outlook allows banks to move...

Asian shares gain despite virus worries; China exports rise

Apr. 13, 2021 00:04 AM EDT

TOKYO (AP) — Asian shares were mostly higher on Tuesday with hopes growing for a global economic rebound despite surging coronavirus cases in many places. China reported its exports rose nearly 31% in March, in line with expectations but weaker than the 60% growth seen...

How major US stock indexes fared Monday

Apr. 12, 2021 18:24 PM EDT

Stocks ended just below the latest record highs they hit last week as technology companies slipped. The S&P 500 edged down less than 0.1% Monday and the tech-heavy Nasdaq gave up 0.4%. Investors are continuing to focus on the economic recovery as well as concerns...

Asian shares decline on vaccine, virus worries

Apr. 12, 2021 00:10 AM EDT

BANGKOK (AP) — Asian shares were lower on Monday, as investors grew wary over the recent surge in coronavirus cases in many places while vaccination efforts are making scant headway. Shares fell in Tokyo, Shanghai, Hong Kong and Sydney. The...

Tech company gains help push S&P 500 to record high

Apr. 09, 2021 17:07 PM EDT

Wall Street capped another week of gains with more milestones Friday, as strength in technology and health care stocks helped push the S&P 500 and Dow Jones Industrial Average to all-time highs. The S&P 500 rose 0.8% for its fourth record high this week and third...

Asia stocks follow Wall Street down on renewed virus worries

Mar. 23, 2021 23:47 PM EDT

BEIJING (AP) — Asian stock markets followed Wall Street lower Wednesday after European governments extended anti-coronavirus lockdowns, clouding the outlook for economic recovery. Market benchmarks in Shanghai, Tokyo and Hong Kong retreated. ...

Wall Street closing lower; bank stocks fall

Mar. 19, 2021 17:05 PM EDT

Wall Street closed out a choppy week of trading Friday with major stock indexes mostly lower and all finishing in the red for the week. The S&P 500 ended 0.1% lower after reversing a small gain. The benchmark index, which hit an all-time high on Wednesday, posted its...