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Bank of America Corporation (0Q16.L)

LSE - LSE Delayed price. Currency in USD
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33.330.00 (0.00%)
At close: 07:00PM BST
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  • Yahoo Finance Video

    Bank earnings, retail sales, Prime Day begins: What to watch

    A number of banks will release their latest quarterly reports including: Bank of America (BAC), Morgan Stanley (MS), Charles Schwab (SCHW), PNC Financial Services (PNC), and State Street (STT), as well as UnitedHealth Group (UNH). Economic data in the form of Jun retail sales will be released with current estimates showing a decline of 0.3% month-over-month. Federal Reserve Governor Adriana Kugler will speak at the Economic Measurement Seminar at National Association for Business Economics (NABE), in Washington, D.C. Amazon's (AMZN) annual sale event, Prime Day, begins and will continue through July 17. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Nicholas Jacobino

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    Goldman Sachs earnings prove bank still very cyclical

    Among the Big Bank stocks, JPMorgan Chase & Co. (JPM), Wells Fargo (WFC), Citigroup (C), Goldman Sachs (GS), and BlackRock (BLK) have been the first to report second-quarter results this earnings season. Portales Partners founder and Wall Street Beats partner Charlie Peabody comes on Market Domination to talk about the prevalent themes emerging in bank earnings, such as net interest income figures "Short term, there's momentum in the capital markets. And so Goldman is a good momentum play, but we argue that their earnings stream remains much more cyclical than the market is valuing them at," Peabody states. "And that's the big debate out there in management as they moved away from their failed consumer banking strategy back to their roots as an investment bank, have been trying to convince the street that there is a core underlying earnings power that's sustainable and stable. And I don't believe them." Peabody also looks ahead to the bank earnings due out this week, such as Morgan Stanley (MS): "I think it's going to be more of the same — strong, investment banking with an eye towards a pick up in M&A and IPOs in the second half of the year. And then trading will be driven more by equity trading and less so by fixed income trading." For more expert insight and the latest market action, click here to watch this full episode of Market Domination. This post was written by Luke Carberry Mogan.

  • Yahoo Finance

    Netflix results, retail sales, and a chip update: What to watch this week

    Second quarter earnings season will begin to ramp up in the week ahead with results from Netflix, American Express, Goldman Sachs, and UnitedHealth set to feature.