Archives of “bank of america” tag

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US stocks close mixed. Nasdaq and S&P close lower. Dow up but off highs.

  
Analysis, US Market
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ASDAQ falls -0.52%. Dow posts a four day win streak

The major indices are ending the day with mixed results. The Dow is higher on the day and has posted a four day win streak. The the NASDAQ index is down for the second consecutive day. The S&P index snapped its three day win streak.

The final numbers are showing:
  • Dow +71.37 points or 0.21% at 34,869.37
  • NASDAQ felt -77.73 points or -0.52% at 14 969.98
  • S&P fell -12.37 points or -0.28% at 4443.11
  • Russell 2000 index rose 32.93 points or 1.46% at 2281.00
Some big winners today included:
  • Alcoa, +6.43%
  • Dow, +5.07%
  • First Solar, +4.88%
  • Schlumberger, +4.10%
  • Nio, +3.9%
  • Exxon Mobil, +3.76%
  • Bed Bath and Beyond +3.74%
  • Alibaba, +3.47%
  • Tencent, +3.43%
  • Beyond Meat, +3.25%
  • PNC, +2.93%
  • Ford, +2.3%
  • Dollar Tree, +2.77%
  • Bank of America, +2.66%
Losers today included:
  • Novavax, -6.94%
  • Moderna, -4.93%
  • Roblox, -3.91%
  • Palantir, -3.75%
  • Snap, -3.63%
  • Crowdstrike, -3.22%
  • Adobe, -3.06%
  • Goodrx, -2.9%
  • Intuitive surgical, -2.89%
  • Twitter, -2.76%
  • Blackberry, -2.22%
  • Salesforce, -2.08%
  • Chipotle -2.02%

Stocks up for the 4th straight day. NASDAQ gains 2.5%

  
Analysis, US Market
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Dow, S&P and NASDAQ on track for the best week since April

The major stock indices closed sharply higher for the 4th consecutive day. The Dow, S&P and NASDAQ on track for the best week since April:

  • 10 of the 11 sectors of the S&P closed higher with energy dipping into the negative at the close
  • Dow closes less than 1% below its 2020 breakeven level
  • NASDAQ index is up close to 9% for the week
  • NASDAQ closes less than 2% from the all-time high
  • S&P index closes 2% from its all-time high
  • the S&P index is up 7.4% for the week (was down around 6% last week)
  • 4 straight days higher
The final numbers are showing:
  • S&P index up 67.01 points or 1.95% at 3510.45
  • NASDAQ index up 300.14 points or 2.59% at 11890.92
  • Dow industrial average up 542.52 points or 1.95% at 28390.18
Some oversize winners today included:
  • Qualcomm, +12.79%
  • FirstSolar, +8.91%
  • Papa John’s +8.12%
  • United Airlines +6.0%
  • Southwest Airlines +5.42%
  • American Airlines +5.32%
  • PayPal +5.3%
  • Caterpillar +5.12%
  • J.P. Morgan, +4.05%
  • Bank of America, +3.89%
  • Salesforce, +3.85%
Some losers today included:
  • AliBaba, -2.76%
  • Northrop Grumman, -2.6%
  • Bristol-Myers Squibb, -2.54%
  • Exxon Mobil, -2.11%
  • Lockheed Martin, -1.96%
  • Pfizer, -1.52%
  • Phillip Morris, -0.85%
  • Gilead, -0.4%
  • Snowflake, -0.3%
  • Boston Scientific,

S&P and NASDAQ closed at record levels. All sectors of the S&P rise

  
Analysis, US Market
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Dow leads the way with a 1.36% gain. Closes within 50 points of the end of December closing level

the S&P index and the NASDAQ index close at records.  All sectors of the S&P closed higher. The Dow industrial average closed within 50 points of the 2019 closing level. The price is not traded above its record closing level since February 21, 2020.
The final numbers are showing:
  • S&P index rose and 34.15 points or 1.01% at 3431.31. It’s high price reached 3432.09.
  • NASDAQ index rose 67.918 points or 0.60% at 11379.72. It’s high price reached 11462.05.
  • The Dow industrial average rose 378.13 points or 1.35% to 28308.46. That The price within 50 points of its 2019 closing level of 28358.44.
Airline stocks were big winners today:
  • United Airlines rose 9.9%
  • Delta Air Lines rose 9.28%
  • Southwest Airlines rose 6.49%
Boeing was also a big winner with a gain of 6.42%.
Financials also outperformed with the major banks and investment banks rising over 2%:
  • Wells Fargo, +3.68%
  • Citigroup, +3.59%
  • PNC financial, +3.21%
  • Bank of America, +2.84%
  • J.P. Morgan, +2.82%
  • Morgan Stanley, +2.5%
  • Goldman Sachs, +2.41%
  • Charles Schwab +1.97%

Bank of America revises global GDP forecast to weakest since 2009

  
Analysis, Economy
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Thursday note from Bank of America / Merrill Lynch

  • Project global growth for 2020 at 2.8%
  • slowest since 2009
  • Expect China to be weakest since 1990
And …
  • risks are still skewed to the downside
  • Our forecasts do not include a global pandemic that would basically shut down economic activity in many major cities
—
And, just thinking out loud …. does the coronavirus mean the yield curve inversion was right all along?

It's Just Beginning-22 Signs That The Global Economic Turmoil so far in 2016g

  
Analysis, Education
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As bad as the month of January was for the global economy, the truth is that the rest of 2016 promises to be much worse.  Layoffs are increasing at a pace that we haven’t seen since the last recession, major retailers are shutting down hundreds of locations, corporate profit margins are plunging, global trade is slowing down dramatically, and several major European banks are in the process of completely imploding.  I am about to share some numbers with you that are truly eye-popping.  Each one by itself would be reason for concern, but when you put all of the pieces together it creates a picture that is hard to deny. 

The global economy is in crisis, and this is going to have very serious implications for the financial markets moving forward.  U.S. stocks just had their worst January in seven years, and if I am right much worse is still yet to come this year.  The following are 22 signs that the global economic turmoil that we have seen so far in 2016 is just the beginning…

1. The number of job cuts in the United States skyrocketed 218 percent during the month of January according to Challenger, Gray & Christmas.

2. The Baltic Dry Index just hit yet another brand new all-time record low.  As I write this article, it is sitting at 303.

3. U.S. factory orders have now dropped for 14 months in a row.

4. In the U.S., the Restaurant Performance Index just fell to the lowest level that we have seen since 2008.

5. In January, orders for class 8 trucks (the big trucks that you see shipping stuff around the country on our highways) declined a whopping 48 percent from a year ago.

6. Rail traffic is also slowing down substantially.  In Colorado, there are hundreds of train engines that are just sitting on the tracks with nothing to do.

7. Corporate profit margins peaked during the third quarter of 2014 and have been declining steadily since then.  This usually happens when we are heading into a recession.

8. A series of extremely disappointing corporate quarterly reports is sending stock after stock plummeting.  Here is a summary from Zero Hedge of a few examples that we have just witnessed… (more…)

Top Domain Names are Owned by Publicly Traded Companies

  
  Education
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Owning a strong domain name can be a valuable asset, due the the fact that a good name can receive a lot of direct ‘type-in’ Internet traffic, bypassing search engines. Here is a list of leading domain names and the publicly trade stocks that own them them.

Asthma.com Glaxosmithkline plc (GSK)
Book.com Barnes & Noble, Inc. (BKS)
Books.com Barnes & Noble, Inc. (BKS)
Baby.com Johnson & Johnson (JNJ)
Cat.com Caterpillar Inc. (CAT)
Flowers.com 1-800-Flowers.com Inc. (FLWS)
Flu.com MedImmune, division of AstraZeneca plc (AZN)
Gift.com J. C. Penney Company, Inc (JCP)
Icecream.com Nestle (NSRGY.PK)
Loans.com Bank of America Corporation (BAC)
Movie.com Comcast (CMCSA)
Movies.com Comcast (CMCSA)
Pets.com Petsmart Inc. (PETM)
School.com Office Depot, Inc. (ODP)
Tv.com CBS (CBS)
Video.com Disney (DIS)

The Woman Who Made It on Wall Street

  
Education, US Market
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Sallie

Women are the foot soldiers of the business world, but they are rarely the generals. So it’s worth asking why no female has been as successful in scaling Wall Street as Sallie Krawcheck, Bank of America’s (BAC) wealth management chief. While other women struggle to avoid the “glass cliff,” she barely walks into a bank before she is groomed as a future CEO.

Krawcheck is best known for the kind of media adoration you can’t buy—for instance, that famous cover story from Fortune magazine, “In Search of the Last Honest Analyst.” But her rise began well before—and was speedy. In six years Krawcheck went from junior banker at Donaldson Lufkin & Jenrette to chief executive of research firm Alliance Bernstein. She clocked just two years at Citigroup (C) before becoming CFO in 2004. Nine months after a falling-out with Citigroup CEO Vikram Pandit in 2008, she was back in the game with a better deal: Bank of America wooed Krawcheck, just 45, to run its mammoth brokerage. And within six weeks on the job, she was named as a possible successor for its departing CEO. But as successful as she has been in winning over the media, interviews with former colleagues show Krawcheck has been just as effective in winning over her peers, too. Her rise has not been flawless and is still not assured after her troubled turn as Citi CFO. But it is very real.

Read More …Click here

Crash of the Titans

  
Analysis, Education
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For many, many years, Merrill Lynch had good reason to be “Bullish on America.”

With more than 15,000 brokers and $2.2 trillion in client assets Merrill Lynch was the world’s largest brokerage. It clawed its way to the top and revolutionized the stock market by bringing Wall Street to Main Street.

But in September 2008 – at the height of the financial crisis, it ceased to exist as a separate entity when it was acquired by Bank of America

The world, the company, the Street was in shock.

How could this American institution collapse almost overnight?

In his meticulously researched new book, Crash of the Titans: Greed, Hubris, The Fall of Merrill Lynch and the Near-Collapse of Bank of America, Greg Farrell reveals it all in never before reported detail.

In this guest author blog Farrell shares how his book came to be and if you continue on, you can read an excerpt from Crash of the Titans.

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