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Kalkine Media ASX Share Market News & Research

Bank of America’s Coming Earnings Will Test Its Stock Rally

July 15, 2024 05:22 PM EDT | By EODHD
Google News: https://kalkinemedia.com/resources/assets/public/images/google-news.webp
Bank of America’s Coming Earnings Will Test Its Stock Rally
Image source: Kalkine Media

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Bank of America will be the last of the largest financial institutions to release earnings when it reports on Tuesday, but it will be wrestling with the same issue as the rest. In another sign of high rates eating into big banks’ performance, analysts expect Bank of America profit and net interest income—the measure investors are watching most closely—to decline from a year ago when the bank reports second-quarter earnings. BofA executives have said they expect the second quarter to mark a low point for net interest income, before picking back up in the second half of 2024. Continue reading View comments

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