On the SPOT blog (10/17/2022) [B..]
Beautiful Monday for the markets today perhaps resulting out of strong results from Bank of America and policy reversal in UK (reduces the likelihood of another systemic issue for global financial markets). Bank of America (ticker BAC) results seemed impressive. They beat revenue and earnings estimates while reporting sweet NII (net interest income). The number looked so good that it seems to have helped it balance out fall in other areas such as investment banking income. BAC also guided for growing NII for Q4 and into the next year. Rising interest rates should help it. BAC CEO's commentary about consumers' financial health also sounded +ve. Let's see how the markets behave this month (there is no FOMC meeting until next month). I liked the strength and stability of BAC. We discussed the premise of having this bank on our watch list here so let me skip over to the gScores for trading insights.
Want to read more?
Subscribe to www.gammathworks.com to keep reading this exclusive post.