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Search resuls for: "Bank of America isn't"


5 mentions found


☆ Bank of America joins growing chorus on Wall Street loving this sector to play China's stimulus
  + stars: | 2024-10-01 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +1 min
A major Wall Street strategist is jumping aboard the story that materials stocks could be at the start of a big rally. That theory played out during last week's rally for Chinese stocks. The Materials Select Sector SPDR Fund (XLB) rose 3% last week, though it was down a bit on Monday and Tuesday. XLB 1M mountain This materials fund is up since the Chinese stock rally began. Bank of America isn't the only Wall Street shop that's bullish on materials given the change in China.
Persons: Savita Subramanian, Sherwin, Subramanian, Roth MKM's JC O'Hara Organizations: Bank of America, Linde Locations: China, Freeport, McMoRan
☆ Airbnb's ongoing battle with hotels for travelers has taken a noticeable turn
  + stars: | 2024-08-13 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
Go to newsletter preferencesSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, Airbnb said its struggles are tied to consumers spending less, but it's also because they're opting for hotels instead . The big storyPlenty of vacancyiStock; Rebecca Zisser/BIAirbnb took a noticeable step back in its ongoing battle with hotels. But Airbnb's struggles are also a product of travelers opting for hotels instead , writes Business Insider's Dan Latu. The death of the so-called millennial lifestyle subsidy — for which Airbnb was a key player — resulted in consumers rethinking things.
Persons: —, Airbnb, it's, let's, Rebecca Zisser, Execs, Airbnb's, Dan Latu, haven't, Jenny Chang, Rodriguez, Bloomberg it's, BI Bank of America isn't, Nicolás Ortega, Nate Silver, Chelsea Jia Feng, Alexander, Tal, Oren Alexander, Musk, Trump, Elon Musk's, Donald Trump, Ron DeSantis, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock Organizations: Service, Apple, Business, Bloomberg, Getty, BI Bank of America, Viking, Israel, BI, Apple Intelligence, Trump, X, Florida Gov, Google Locations: Iran, New York, London
☆ Why the US isn't facing a stagflation threat even as growth slows, according to BofA
  + stars: | 2024-05-16 | by ( Filip De Mott | ) www.businessinsider.com   time to read: +1 min
Recent stagflationary forecasts are misguided for this year, Bank of America wrote on Thursday. While first-quarter GDP badly missed estimates, the inflation that was seen was driven by strong consumer spending. That separates it from the US's last bout with stagflation, in 2022, when higher prices were caused by a supply shock. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . Fear arose in April when first-quarter GDP missed expectations as inflation figures simultaneously surpassed estimates.
Persons: stagflation, —, Bank of America isn't Organizations: Bank of America, Service, Business
☆ Retirees are about to shift money into equity income, boosting these stocks, says Bank of America
  + stars: | 2024-02-05 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com   time to read: +2 min
Money market fund assets had $6 trillion as of Jan. 31, according to the Investment Company Institute . "Retirees have shifted assets to cash for income, but an easing cycle could drive them to equity income funds. AT & T has the highest current dividend yield of those six stocks, at more than 6%. However, Bank of America projects big dividend hikes in the coming years, and the stock is already up 15% in 2024. It is unclear how much of the cash parked in money market funds will flow back into the stock market.
Persons: Savita Subramanian, Ford, Morgan Stanley Organizations: Bank of America, Investment Company Institute, Dow Inc, Simon Property Group, Merck, Simon Property, Ford
☆ U.S. consumer is soldiering on despite soaring inflation and recession risk, credit card giants say
  + stars: | 2022-10-21 | by ( Yun Li | ) www.cnbc.com   time to read: +2 min
The company said overall customer spending jumped 21% year over year, driven by growth in goods and services as well as travel and entertainment. "Card member spending remained at near-record levels in the quarter," American Express CEO Stephen Squeri said Friday on an earnings call. "We expected the recovery in travel spending to be a tailwind for us, but the strength of the rebound has exceeded our expectations throughout the year." Bank of America isn't experiencing any slower growth in spending either, despite inflation having reached historic highs. "Analysts might wonder whether the talk of inflation, recession and other factors could [result] in a slower spending growth," Moynihan said Monday during a conference call.
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