Bank Of America [Pif0u5EVDzG]

Tag: #Zack Wheeler, #riley green, #lecco pianese, #payton tolle

Today we look at #BankOfAmerica #BAC #Stock - which just reported Q2 earnings before the bell. The companys profit was helped by releasing provisions for credit loses & a one-time tax benefit. However, when we dive into the loan mix - the company achieved growing loan balances for the first time protezione civile since 2020. Additionally - consumer punisher one last kill charge-offs on credit cards remains historically low. One of the macro issues for Bank of America stock is the fact that interest rates are starting to fall again - after rising earlier this year. Investors piled into bank stocks like Bank of America when rates were rising - and when restrictions on buy-backs & dividend increases were lifted by the Federal Reserve. From a technical perspective - BAC stock has seen a trend reversal and were waiting for signs of it bottoming before we buy more shares of Bank of America.

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