Bank Of America
This year has seen a number of ups and downs for the US banking industry as the overall economy of the nation battles to deal with inflation and the Federal Reserve’s tightening stance. The most recent quarterly reports from Morgan Stanley and Bank of America paint a confusing picture of the status of America’s private financial institutions.
Bank of America surpasses expectations
After the company released its second-quarter financial results on Monday, shares of Bank of America (BAC) increased somewhat. It appears that traders may have felt some optimism despite the somewhat ambiguous picture of the bank’s finances that was offered yesterday before trading started.