Bank of America (BAC)
$33.01 0.98 (2.88%)
19:59 EST BAC Stock Quote Delayed 30 Minutes
Previous Close -
Market Cap 334.70B
PE Ratio 19.08
Volume (Avg. Vol.) 57.68M
Day's Range 32.70 - 33.63
52-Week Range 17.95 - 35.45
Dividend & Yield 0.51 (1.54%)
BAC Stock Predictions, Articles, and Bank of America News
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As earnings season continues, the top earnings reports to watch next week include Bank of America, Netflix, New Oriental Education and Intel.
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Bank of America (BAC) is seeing BAC stock fall on Wednesday after missing revenue estimates in its Q3 2020 earnings report.
Quarterly earnings reports from the largest banks in the US are expected to make it clear that the country's economy is in for a long recovery.
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If the banks are going down, these seven financial stocks are likely to suffer. A questionable economy and low interest rates aren't helping.
From Yahoo Finance
(Bloomberg) -- The dollar’s downtrend may be set to resume.Hedge funds boosted net short positions in the greenback to the highest since April 2018 in the week through Jan. 12, according to data aggregated from the Commodity Futures Trading Commission. They also raised net bullish bets on the pound to the most since October while wagering on the euro and the Australian and New Zealand currencies to rise.The bets come as the world’s reserve currency enjoys a reprieve from a two-year slide after U.S. yields climbed to a 10-month high. A renewed bout of weakness in the dollar may amplify scrutiny of the incoming U.S. administration’s policy, with Treasury Secretary-designate Janet Yellen expected to declare that the authorities won’t seek a weaker currency to boost exports in her testimony on Tuesday.“The dollar is still likely to move lower over the course of the year,” Seamus Mac Gorain, head of global rates at JPMorgan Asset Management, said in an interview last week. “Many of the currencies which are more levered to global growth, particularly emerging market currencies” and the Aussie are set to strengthen, he said.The Bloomberg Dollar Spot Index has climbed over 1% since sliding to the lowest in almost three years this month. While the gains have fueled talk about a rebound, some including Goldman Sachs Group Inc. and investors in a Bank of America Corp. survey remain steadfast in forecasting a weaker greenback.“We continue to believe that the combination of high dollar valuations, low nominal and real rates, and a rapid recovery in the global economy will weigh on the greenback throughout 2021,” Goldman strategists including Danny Suwanapruti wrote in a Jan. 17 note.Yellen is expected to affirm the U.S.’s commitment to market-determined dollar value and give assurances that the U.S. won’t seek a weaker dollar for competitive trade advantage, the Wall Street Journal reported, citing President-elect Joe Biden transition officials familiar with her preparation for her confirmation hearing.The U.S. adopted a policy of favoring a “strong” dollar in 1995. While the mantra did evolve from one Treasury chief to another, no administration from then until the Trump years communicated, as the president did in 2017, that the dollar was “getting too strong.”“This is not the same as the strong-dollar policy of the past,” Khoon Goh, head of Asia research at Australia & New Zealand Banking Group Ltd., said of Yellen’s expected upcoming remarks. “A commitment to market-determined exchange rates implies that the new administration will be comfortable with further dollar weakness.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
From Talk Markets
From Yahoo Finance
(Bloomberg) -- Equity analysts just keep getting more bullish on Asian companies, especially in China, where the proportion of buy equivalent ratings in local stocks has now surpassed South Korea to the highest since 2011.About 86% of the more than 5,600 total stock recommendations in the benchmark CSI 300 Index are now a buy equivalent, according to data compiled by Bloomberg as of Jan. 14. That’s an increase of five percentage points from a year ago, and has seen China overtake long-time leader Korea as the major market that analysts are the most upbeat about in the Asia Pacific region, the data show.Analysts are growing increasingly sanguine as vaccine rollouts boost bets of a rebound in economies, especially export-focused ones like China and South Korea, as well as corporate earnings. Asia Pacific stocks have started 2021 on a roll after a solid finish to 2020 as investors look to a post-pandemic recovery. The relentless rally, however, is spurring concerns about speculative excess, with valuations rich across several sectors.“Within Asia -- and China in particular -- there is a strong retail investor and momentum bias to the market,” said Louise Dudley, a global equities portfolio manager at the international business of Federated Hermes. “For companies where there have been recent positive revisions, this seems to be sentiment driven, with little change to the fundamentals.”READ: Analysts Now Bullish on 70% of Equities in Asia: Taking StockWhile China is leading the pack, key indexes in South Korea, Hong Kong and India too have seen bullish ratings surge to at least three-quarters of overall recommendations.‘Overly Optimistic’China’s stock market, where historically sell ratings are rare, has seen its proportion of bullish ratings rise steadily from around 67% at the start of 2016, according to Bloomberg-compiled data going back to at least 2006. That’s raised questions over whether the market is starting to look stretched. The CSI 300 hit a 13-year high on Jan. 12 before pulling back.“I’m not too concerned that sentiment, judging from this one particular metric, is striking as overly optimistic,” said Raymond Cheng, head of Asia equity strategy with JPMorgan Private Bank in Hong Kong. “The big catalyst to watch is upcoming earnings by Chinese companies and whether those numbers live up to sell-side expectations, and continued containment of the outbreak.”Australia, JapanMeanwhile, two developed economies are trailing on this metric. Buy equivalents make up just over half of ratings in Japan’s Topix index and less than 50% of recommendations in Australia’s S&P/ASX 200, the data show.Both countries have struggled to control the spread of Covid-19 from time to time, with Japan most recently expanding its state of emergency. Australia also faces a deteriorating diplomatic row with China.Japan’s outlook is a bit mixed, said JPMorgan’s Cheng. Exceptional balance sheets and subdued valuations provide opportunities in areas like banks, but that’s offset by a strengthening yen that will constrain exports, he said. Still, he is relatively more positive on Japan than Australia.The Topix and S&P/ASX 200 have both lagged the MSCI Asia Pacific Index so far this year.According to Eleanor Creagh, Sydney-based strategist at Saxo Capital Markets, the year ahead should “bring plenty of opportunity for catch up” in Australia. “With a vaccine rollout ahead, earnings rebound in play and the prospect of regional travel bubbles in the pipeline, investors have something to look forward to,” Creagh said.READ: Australian Shares May Play Catch-Up to Peers on Miners, ConsumerThomas Poullaouec, head of multi-asset solutions Asia Pacific with T. Rowe Price, said investors should be careful not to draw too many conclusions on the market trend based on individual ratings.“What is more important is the trend of analyst earning revisions,” he said. “Over the last month, analysts have become more bullish on Australia and Japan than on China,” he said, citing an analysis by Bank of America. T. Rowe Price is overweight both Australian and Japanese stocks.(Adds strategist comment in the 12th paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
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