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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Bank of America Corporation | NYSE:BAC | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.2502 | 0.66% | 37.9402 | 38.145 | 37.695 | 37.75 | 11,530,067 | 16:44:43 |
MARKETS AT A GLANCE:
(Data as of approximately 5 p.m. ET)
LAST CHANGE % CHG DJIA 16424.85 162.29 1.00% Nasdaq 4086.23 52.06 1.29% S&P 500 1862.31 19.33 1.05% Japan: Nikkei 225 14417.68 420.87 3.01% Hang Seng 22696.01 24.75 0.11% Shanghai Composite 2105.12 3.52 0.17% S&P BSE Sensex 22277.23 -207.7 -0.92% Australia: S&P/ASX 5420.3 32.1 0.60% UK: FTSE 100 6584.17 42.56 0.65% PRICE CHG YIELD% U.S. 2 Year 0/32 0.371 U.S. 5 Year -4/32 1.648 U.S. 10 Year 0/32 2.632 Australia 10 Year 4/32 3.994 China 10 Year 5/32 4.52 India 10 Year -1/32 8.958 Japan 10 Year -1/32 0.611 German 10 Year -4/32 1.488 LAST(MID) CHANGE Australia $ (AUD/USD) 0.9369 -0.0002 Yen (USD/JPY) 102.22 -0.02 S. Korean Won (USD/KRW) 1038.45 0.12 Chinese Yuan (USD/CNY) 6.2218 0 Euro (EUR/USD) 1.3814 -0.0002 WSJ Dollar Index 72.98 0 LAST CHANGE % CHG Crude Oil 103.82 0.07 0.07% Brent Crude 109.54 0.18 0.16% Gold 1302.2 1.9 0.15%
SNAPSHOT:
U.S. stocks gained broadly and Treasurys slipped amid rising hopes of economic stimulus from Asia and a sharp two-day rally from highflying stocks helped bolster investor confidence. Crude-oil prices ended near flat after government data showed a rise in supplies. Gold prices edged higher on worries about rising tensions in Eastern Europe.
OPENING CALL:
Japan investors will get a key reading on consumer sentiment when the monthly Consumer Confidence Index survey is released Thursday. The index contracted for the third straight month in February to 38.2, its worst reading since Prime Minister Shinzo Abe entered office in January 2013 and the lowest since September 2011. A reading below 50 indicate pessimists outnumber optimists.
EQUITIES:
U.S. stocks gained broadly, bringing the S&P 500 index into positive territory for the year.
Rising hopes of economic stimulus from Asia and a sharp two-day rally from highflying stocks helped bolster investor confidence.
The rally picked up some steam in afternoon trading, led by high-octane biotechnology and social-media stocks. The Nasdaq Biotechnology Index rose 2.4%. Those so-called momentum stocks have made a series of big swings in the first half of April, roiling the tech-heavy Nasdaq Composite.
So far this month, the Nasdaq has lost 2.7%, and the Nasdaq Biotechnology Index has dropped 5.8%. Initially, many of those sharp moves were driven by trading in exchange-traded funds, traders said.
In corporate news, New York investment bank Moelis rose $1.15, or 4.6%, to $26.15 in its public debut, after pricing its initial public offering below its forecast range.
Twitter slipped $1.10, or 2.4%, to $44.42. The stock shot up 11% Tuesday, the biggest one-day gain since the microblogging site went public in November. Tuesday's rally came one day after some of the company's earliest and biggest backers said they didn't plan to sell shares when rules barring them from doing so expire next month.
In Asian trading Wednesday, Japan's Nikkei Stock Average shot up 3%, after Bank of Japan Governor Haruhiko Kuroda said he would closely monitor stock prices and that inflation was on a steady track toward the 2.0% target. China's Shanghai Composite gained 0.2%.
FOREX:
The dollar held its gains against the yen after Federal Reserve Chairwoman Janet Yellen indicated in a speech that the central bank has no plans to raise interest rates ahead of schedule.
Investors have heard Ms. Yellen reiterate recently a monetary policy position that includes keeping U.S. interest rates low. They expected no significant deviation from this stance in Wednesday's comments, said Ken Wills, senior corporate dealer at USForex. Ms. Yellen spoke to the Economic Club of New York.
"There was nothing surprising from her comments to cause the dollar to move drastically," Mr. Wills said. "The dollar will continue to trade within current ranges and is likely to have more of a reaction around fundamental data as they come in, the key being employment."
Also, the British pound rose against major currencies after the Office for National Statistics reported the unemployment rate in Britain fell to its lowest level in five years. The unemployment rate dropped to 6.9% during the three months to February, from 7.1% over the previous three months.
Investors took the news as a signal that the Bank of England would raise interest rates sooner than expected, which would support the British pound by boosting the value of sterling-denominated assets.
BONDS:
Treasury bonds slipped as global economic data brightened the growth outlook and sapped demand for haven assets.
Bond prices also weakened as comments from Federal Reserve Chairwoman Janet Yellen disappointed some investors looking for stronger signals that the central bank will keep interest rates lower for longer.
Still, the 10-year yield is trading near a six-week low as growing geopolitical tensions in Ukraine kept a lid on selling in U.S. government bonds.
Weighing on bond prices was data showing that U.S. industrial production rose by 0.7% in March, pointing to expansion of the manufacturing sector.
"Bond yields have room to rise if the U.S. economy continues to gain traction later this year," said William Larkin, fixed-income portfolio manager with Cabot Money Management in Salem, Mass., which manages $575 million in assets.
COMMODITIES:
Crude-oil prices fell from a six-week intraday high to end near flat after government data showed the biggest one-week increase in U.S. crude-oil supplies in 13 years.
Crude-oil stockpiles rose by 10 million barrels last week to 394.1 million barrels, the U.S. Energy Information Administration said. Analysts had expected stocks to rise by 1.5 million barrels on the week, according to a Wall Street Journal survey.
The increase, the biggest one-week gain in crude stocks since March 2001, highlighted concerns that booming U.S. production of light crude is overwhelming refineries' capacity to process it.
Gold prices edged higher as worries about rising tensions in Eastern Europe slightly outweighed expectations of decreased demand for the precious metal in China.
TODAY'S HEADLINES:
Google Shares Slide After Disappointing Results
Google posted a 3% increase in first-quarter net income to $3.45 billion despite a continuing decline in how much advertisers pay per click, as users shift to smartphones and tablets.
IBM's Profit Slides As Hardware Sales Keep Falling
International Business Machines reported a 21% drop in 1Q profit as the computing giant's revenue continued to be stung by a sharp decline in hardware sales.
American Express Profit Rises on Higher Revenue
American Express said first-quarter earnings rose to $1.43 billion, or $1.33 a share, due to expense controls and higher revenue. Per-share earnings beat analysts' views but revenue missed.
U.S. Economy Thawing, Survey Finds
Economic activity in most of the country rebounded in recent weeks from weather-related slowdowns earlier this year, according to the Federal Reserve's "Beige Book" survey of regional economic conditions.
Yellen Says Fed Policy Hinges on Three 'Big Questions'
Federal Reserve officials will weigh three "big questions"--including low inflation and labor-market slack--as they consider when the economy is healthy enough to begin raising rates, Fed Chairwoman Janet Yellen said.
Bank of America Reports Loss
BofA reported a 1Q loss of $276 million, or 5c a share, versus a profit of $1.48 billion a year ago, as it was weighed down by $6 billion in legal charges and by slumping mortgage originations. Revenue fell 2.7% to $22.57 billion. Shares were off 3%.
N.Y. Attorney General Subpoenas High-Speed Firms
New York Attorney General Eric Schneiderman's office is said to have sent its first wave of subpoenas to about a half-dozen high-frequency trading firms in an investigation into whether some rapid-fire firms have an unfair advantage over other trading outfits.
U.S. Housing Starts Climb 2.8% in March
U.S. housing starts rose 2.8% in March to a seasonally adjusted annual pace of 946,000, fueled by growth in single-family homes, but broader trends suggest the market remains in a slump.
U.S. Industrial Production Rises in March
Industrial production increased a seasonally adjusted 0.7% in March from the prior month, the Federal Reserve said. Capacity utilization, a gauge of slack across industries, rose 0.4 percentage point to a 79.2% rate.
Yamana Gold, Agnico-Eagle Agree to Buy Osisko
Canadian gold companies Yamana Gold and Agnico-Eagle Mines said they have reached agreement to buy Osisko Mining for $3.6 billion, in what could prove be one of the largest mining deals so far this year.
RECENT DJ DOMINANTS:
Bank of America in Multibillion Dollar Settlement Talks With Justice Dept. Over Mortgage Securities
GIP Exploring Sale of 50% Stake in Ruby Pipeline
Democratic Fundraising Tops GOP in Key House Races
Cereal Maker Post Holdings Is Likely Winner in Auction of Michael Foods
Spain Launches EUR7 Billion Property-Loan Sale
Sonic Plans to Accelerate Expansion
TODAY'S CALENDAR:
(Times in GMT, followed by country and event)
2100 SKA Mar PPI
0030 SIN Mar Merchandise Trade, incl non-oil domestic exports
0130 AUS Mar Foreign Exchange Transactions and Holdings of Official Reserve Assets
0130 AUS Mar International Merchandise Imports
0130 AUS Mar New Motor Vehicle Sales
0200 CHN Mar FDI Foreign Direct Investment
0300 SKA Q1 Foreign exchange transaction trends
0500 JPN Mar Consumer Confidence Survey
0530 JPN Mar Nationwide department store sales
0530 JPN Mar Tokyo area department store sales
0600 GER Mar PPI
0830 UK Mar CML mortgage lending figures
0900 FRA French President Francois Hollande meets Czech Prime Minister Bohuslav Sobotka
1230 US 04/12 Unemployment Insurance Weekly Claims Report - Initial Claims
1230 US U.S. Weekly Export Sales
1230 CAN Feb Employment Insurance
1230 CAN Mar CPI
1345 US Bloomberg Consumer Comfort Index
1400 US Apr Philadelphia Fed Business Outlook Survey
1400 US 04/05 DJ-BTMU U.S. Business Barometer
1430 US 04/11 EIA Weekly Natural Gas Storage Report
2030 US Money Stock Measures
2030 US Foreign Central Bank Holdings
2030 US Federal Discount Window Borrowings
1 Year Bank of America Chart |
1 Month Bank of America Chart |
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