30.80 +0.01 (0.03%)
After hours: 6:35PM EDT
|Bid||30.80 x 1000|
|Ask||30.83 x 2200|
|Day's Range||30.42 - 30.90|
|52 Week Range||22.75 - 33.05|
|PE Ratio (TTM)||16.17|
|Forward Dividend & Yield||0.60 (1.89%)|
|1y Target Est||N/A|
Wall Street stocks advanced and the S&P 500 was on track for its best day in three weeks on Tuesday as a rebound in the Turkish lira eased contagion fears and a string of healthy earnings boosted investor optimism. Gains were widespread as the S&P 500 and the Dow Jones Industrial Average looked set to end their four-day losing streaks. The Turkish lira recovered some ground after plunging to an all-time low on Monday as the country's central bank took steps to ease pressure on the currency.
U.S. stock futures are trending higher this morning. Wall Street appears to have shaken off troubles coming out of Turkey, after the country’s central bank pledged to provide “all the liquidity” its financial institutions needed. About 16.6 million calls and 16.1 million puts changed hands on the session.
The conventional wisdom is that higher interest rates are bad for stocks. Selling attributed to a rate hike may simply be profit-taking or normal market gyrations. U.S. stocks, in particular, generally do well as interest rates are rising.
MARKET PULSE The financial sector was the hardest hit of the S&P 500's 11 key sectors, as banks stocks were weighed down by a sharp drop in longer-term Treasury yields. The SPDR Financial Select Sector ETF (xlf) dropped 1.
Virtual credit cards are a great way to make sure free trials don't go beyond the free period, and to prevent extra unwanted charges.
Bank of America has escalated its rollout of retail branches in Pittsburgh with plans to open three by year-end, starting with an Upper St. Clair site in September, and a fourth by mid-2019. “We’re expanding here pretty rapidly,” said Brian Ludwick, president of BofA’s Pittsburgh market, on Friday. Three advanced centers are also due to open this year, starting with a site at 430 Market Street in downtown Pittsburgh.
BofA's (BAC) digital-first approach at the time of entering new markets will support its branch expansion and increase use of digitization plans.
BofA’s digital-first strategy in new markets is a departure from the bank’s strategy of opening branches in a new market then supporting the physical locations with mobile banking services.
N.A., a large secured lender in the bankruptcy of the nation’s second-largest Applebee’s franchisee, said the business should put itself up for sale immediately and stop spending resources in litigation with the parent company. RMH Franchise Holdings Inc. and affiliated entities sought protection from creditors in May through a chapter 11 petition. Inc. RMH has said its franchiser had unexpectedly sought to terminate the franchisee’s rights.
For years now, investments in big tech companies have paid off better than those in big banks. Jamie Dimon, CEO of JPMorgan Chase (NYSE:JPM), thinks this is about to change and bank stocks should heat up. The best bank stocks have been doing fine through the recovery, but only in the last two years as interest rates have begun rising have the gains at Morgan or Bank of America (NYSE:BAC) been beating the NASDAQ average.
Hackers are poised to steal millions in minutes according to an FBI warning to banks. Yahoo Finance's Seana Smith, Melody Hahm, Rick Newman, Dion Rabouin and Paul Schatz, President Heritage Capitol discuss.
Aug.09 -- Ralf Preusser, global head of rates research at Bank of America Merrill Lynch, discusses interest rate hikes by the Federal Reserve, Bank of England, and Bank of Japan. He speaks with Bloomberg's Matt Miller on "Bloomberg Markets: European Open."
Aug.09 -- Kamal Sharma, director of G10 FX strategy at Bank of America Merrill Lynch, discusses the influence of geopolitics on currency markets. He speaks on "Bloomberg Surveillance."