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BofA stock surges after boosting profit on trading gains, interest income
  • April 15, 2025

BofA stock surges after boosting profit on trading gains, interest income

(Reuters) -Bank of America topped estimates on Tuesday for first-quarter profit as interest income grew and volatile markets helped its stock traders rake in a record haul, lifting its shares more than 4%. "There is a lot to potentially change given the uncertainty around the tariffs and the policies on the future path of the economy," CEO Brian Moynihan told analysts on a call. Equities trading jumped 17% to a record $2.2 billion, while fixed income, currencies and commodities trading revenue jumped 5% to $3.5 billion, propelling its markets revenue to the highest in more than a decade.

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Morning Bid: Fed gives market a breather
  • April 15, 2025

Morning Bid: Fed gives market a breather

The combination of an electronics tariff reprieve and dovish noises from the Federal Reserve have created a semblance of calm in financial markets, though the lingering trade war uncertainty means the respite probably won't last long. * The Trump administration is proceeding with probes into imports of pharmaceuticals and semiconductors as part of a bid to impose tariffs on both sectors on national security grounds, Federal Register filings on Monday showed. * The dollar held steady on Tuesday, trading near a three-year low against the euro and a six-month trough against the yen, as investors trying to make sense of the constant changes to President Donald Trump's tariffs remained wary of U.S. assets.

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Wall Street ends down slightly; tariff uncertainty keeps investors on edge
  • April 15, 2025

Wall Street ends down slightly; tariff uncertainty keeps investors on edge

NEW YORK (Reuters) -U.S. stocks ended slightly lower on Tuesday as tariff uncertainty stayed high and shares of consumer and healthcare companies eased, while upbeat results from banks provided some support. Shares of Bank of America and Citigroup rose following their results. Still, bank executives warned that U.S. consumer spending faces huge risks if the upheaval sparked by President Donald Trump's trade policy goes on.

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