Bank Of America Q3 Profit Surges On Asset Quality, Lower Tax Rate

Bank of America (BAC) reported that its third-quarter earnings per share was up 43% year-over-year to $ 0.66. On average, 24 analysts polled by Thomson Reuters expected the company to report profit per share of $ 0.62 for the quarter. Analysts’ estimates typically exclude special items. Net income to shareholders increased to $ 6.7 billion from $ 5.0 billion, previous year, driven by continuing strong operating leverage and asset quality, as well as the benefit of tax reform. Pretax income was up 18% to $ 9.0 billion.
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Lingering Rate Concerns Contribute To Sell-Off On Wall Street – U.S. Commentary

Stocks saw substantial weakness during trading on Wednesday following the mixed performances seen in the two previous sessions. The tech-heavy Nasdaq showed a particularly steep drop, falling to its lowest closing level in over three months.
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Cramer: If Fed chief Powell were to ‘walk back’ aggressive rate remarks, Wall Street could rally

"All he has to do is say, 'You know what, I think that everything is on the table,'" CNBC's Jim Cramer says. 
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Stocks Close Firmly Negative Amid Interest Rate Worries – U.S. Commentary

Stocks saw considerable weakness during the trading session on Thursday, extending the pullback seen in afternoon trading on Wednesday. With the drop on the day, the Dow gave back ground after ending yesterday’s trading at a record closing high.
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