Bank of America (NYSE: BAC) is extending gains on Apr. 15 after reporting Q1 results that blew past Street estimates, fueled by a resurgence in investment banking and resilient consumer activity. Investors cheered as it posted a 25% year-over-year increase in earnings per share (EPS) and a surprise beat in net interest income (NII), which
Mortgage rates in the United States eased to their lowest level in a month last week, offering some relief to borrowers and driving a pickup in refinancing activity, even as demand from homebuyers remained subdued against a backdrop of economic uncertainty and geopolitical tensions. Data from the Mortgage Bankers Association showed total mortgage application volume
Oil prices edged higher on Wednesday after steep losses in the previous session amid uncertainty about the resumption of flows from the Strait of Hormuz. Meanwhile, gold had hit a near one-month high on COMEX earlier in the day, but the precious metal fell slightly amid a rise in energy prices. Silver prices also dipped
US equities moved higher on Wednesday, with the S&P 500 approaching a fresh all-time intraday high. Investor sentiment improved on expectations that the Iran conflict could be nearing a resolution. The benchmark index rose 0.2% and was on track for a record close, while the Nasdaq Composite advanced 0.3%. The Dow Jones Industrial Average gained
The International Monetary Fund has warned that the escalating conflict in the Middle East is adding further stress to an already fragile global fiscal environment. In its latest Fiscal Monitor report released on Wednesday, the IMF said higher interest rates and rising energy prices intensified by the war are increasing pressure on emerging markets and
Finance ministers from more than 10 countries cautioned on Wednesday that the ongoing Middle East conflict would continue to weigh on global growth, inflation, and financial markets, even if a lasting resolution is achieved. The warning came in a joint statement issued during the International Monetary Fund and World Bank Spring Meetings in Washington. The
Shares of Tesla extended their recovery on Wednesday, rising about 4% in early trading to $378.89. The move was supported by broader market optimism and company-specific developments around its artificial intelligence initiatives. The gains came as the S&P 500 advanced 0.2%, moving closer to a new all-time intraday high amid investor expectations that the Iran
US producer prices increased less than expected in March, as stable service costs helped offset a sharp rise in energy prices triggered by the ongoing war with Iran. The Producer Price Index (PPI) for final demand rose 0.5% last month, matching a downwardly revised increase in February, data from the Bureau of Labor Statistics showed
UK equities moved higher on Tuesday, supported by optimism around potential US-Iran negotiations, even as geopolitical tensions remained elevated with the United States initiating a blockade of Iran’s ports. The benchmark FTSE 100 index rose 0.1% to 10,593.65 points by 5:58 GMT. The mid-cap FTSE 250 outperformed, climbing 1.13%. The gains reflected broader strength across
Wall Street opened higher on Tuesday as renewed hopes of diplomatic progress in the Middle East lifted investor sentiment, even as markets digested fresh corporate earnings and softer-than-expected inflation data. The S&P 500 rose 0.39%, while the Dow Jones Industrial Average added about 45 points or 0.09%. Nasdaq-100 climbed 0.76%, extending momentum from the previous