This is The Takeaway from today’s Morning Brief, which you can sign up to receive in your inbox every morning along with: When the economic cycle actually turns, the biggest drivers of the stock market will change. An obvious statement, perhaps. But the current market rebound is being led by the same handful of Big
This Financial Stock Just Gave Investors A Dividend Boost. Is It Time To Dive In? Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. The stock market is still reeling from last week’s rout, with the benchmark S&P 500 index down over 2.5% over the past month.
The main point of investing for the long term is to make money. But more than that, you probably want to see it rise more than the market average. Unfortunately for shareholders, while the Bank of America Corporation (NYSE:BAC) share price is up 46% in the last five years, that’s less than the market return.
On Tuesday morning, BofA reported production volume of $5.7 billion in first mortgages from April to June, up 66.3% from the $3.4 billion in the previous quarter but down 3.5% from the $5.9 billion figure in Q2 2023. The four largest depository mortgage originators combined to produce a quarterly volume of $26 billion in Q2
Investors are confident the Federal Reserve will be lowering interest rates by the end of its September meeting. As of Tuesday morning, markets were pricing in a 100% chance of an interest rate cut in September, per the CME FedWatch Tool, up from a 70% chance a month ago. The increased confidence comes after a
US stocks opened higher on Tuesday, as investors assessed big bank earnings and a retail sales surprise amid growing conviction an interest-rate cut is near. The Dow Jones Industrial Average (^DJI) rose roughly 0.5% shortly after the opening bell, after the blue-chip index topped 40,000 to notch an all-time closing high. The S&P 500 (^GSPC)
Bank of America Private Bank’s biennial survey of wealthy Americans revealed a generational divide in the perceived greatest opportunities for asset investment and growth. “What we found was some stark differences in approaches to investing and mindset toward overall investing,” Michael Pelzar, head of investments at Bank of America Private Bank, told Yahoo Finance. Market
PHILADELPHIA (CBS) — A Philadelphia woman was charged and accused of stealing COVID-19 relief funds meant for a city in South Florida — allegedly using the money to fund luxury purchases, money transfers to other people and a Brazilian Butt Lift cosmetic procedure. Ashley Stibbins-Parker, 30, is facing charges including fraud, money laundering and grand
Tech sector funds have seen record inflows this week, according to Bank of America’s Investment Strategy and EPFR, while crude oil prices (BZ=F, CL=F) are on the rise. In addition, Nvidia (NVDA) shares were bogged down in Friday’s session following a sell-off on Thursday. What is in the chip giant’s future, and can its stock
Young collectors at Art Basel Miami Beach in 2023. Courtesy Art Basel Much has changed since Bank of America (BAC) released its last Private Bank Study of Wealthy Americans report in 2022. With the youngest Baby Boomers approaching their 60th birthdays and a massive generational transfer of wealth already begun, the study revealed that older