Bank of America Options Spot-On: On July 26th, 145.64K Contracts Were Traded, With 3.19 Million Open Interest
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Bank of America said that the economic downturn will further weaken the bullish momentum of large technology stocks.
Michael Hartnett of Bank of America warned that if the US economy continues to cool, there is a risk that the rise of large US technology stocks will further recede. The strategist is bullish on the bond prospects in the second half of 2024, and has said that signs of an economic slowdown will drive funds into stocks that have underperformed high-priced large-cap tech stocks so far this year. In his Friday report, Hartnett said recent data has shown that the global economy is “ailing,” and it is only a bad non-farm payroll away from losing its dominance over large tech stocks. As investors flock to small-cap stocks, they are betting that the Federal Reserve may act soon.
Cumulative shareholding value reached $2.3 billion! "Stock God" Buffett has been selling Bank of America (BAC.US) for 6 consecutive days.
Warren Buffett's core conglomerate has been reducing its shareholding in Bank of America for six consecutive trading days.
Berkshire Is Quickly Cutting Its Stake in Bank of America. More Sales Could Be Coming
6 days of consecutive sales! Berkshire Hathaway has a record amount of cash in hand, but remains steadfast in its shareholding of beloved Bank of America.
Some analysts believe that Buffett's shareholding reduction in Bank of America may be related to concerns about valuation. The current price of Bank of America has been getting closer to the level before the plunge of the US stock market in early 2022. In addition, tax rates may also be a possible reason. Regardless of the reason, based on Buffett's style, once the shareholding reduction starts, it will last for a considerable period of time.
Bank of America Options Spot-On: On July 25th, 133.18K Contracts Were Traded, With 3.16 Million Open Interest
Fed, FDIC, OCC Seek More Information From Banks on Bank-fintech Arrangements
Several popular trades like AI concept are facing the risk of a crash, and valuations have reached a "stupid level".
The assumptions that drive the global financial market trend this year are facing the risk of being overturned. In the bond and forex markets, as doubts about the economic outlook deepen, investors are scrambling to re-allocate funds, speculating that the Fed will cut interest rates faster and more dramatically. Another reason for their belief is weak US consumer spending, which is also reflected in disappointing corporate earnings reports. Shareholders suddenly began to doubt whether technology companies' large-scale investments in AI could yield returns quickly, and therefore sold off stocks of big winners such as Nvidia and Broadcom. Copper and other industrial metals also reversed recent gains, as well as against the US.
Lineage Leads Busy Day for IPOs With a Strong Price and Increased Number of Shares
Bank of America Says CashPro App Reaches Over $500 Billion in Payment Approvals
Berkshire Hathaway Sells 18.9 Million More Bank of America Shares
Brokers Suggest Investing in Bank of America (BAC): Read This Before Placing a Bet
Merrill and IMG Academy Launch Partnership to Bring Financial Education to Student-Athletes
Bank of America, Accenture And 2 Other Stocks Insiders Are Selling
BofA Payments App for Businesses Handled Record $500 Billion by Mid-year
Piper Sandler Maintains Bank of America(BAC.US) With Hold Rating, Raises Target Price to $44
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Piper Sandler Reaffirms Their Hold Rating on Bank of America (BAC)