Wall Street slips after rally as earnings, data eyed By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 16 2025
0mins
Source: Investing.com
Market Overview: U.S. stocks experienced a slight decline as investors assessed corporate earnings and economic data, with the Dow Jones falling 0.16%, S&P 500 down 0.21%, and Nasdaq Composite decreasing by 0.89%. Strong bank earnings provided some support, while concerns about potential tariffs and inflation lingered.
Federal Reserve Insights: Comments from Fed Governor Christopher Waller suggested that interest rate cuts could occur sooner than expected due to easing inflation, impacting Treasury yields and market sentiment as investors anticipate future economic conditions.
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Analyst Views on BAC
Wall Street analysts forecast BAC stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for BAC is 61.17 USD with a low forecast of 55.00 USD and a high forecast of 71.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
18 Analyst Rating
14 Buy
4 Hold
0 Sell
Strong Buy
Current: 56.530
Low
55.00
Averages
61.17
High
71.00
Current: 56.530
Low
55.00
Averages
61.17
High
71.00
About BAC
Bank of America Corporation is a bank holding company and a financial holding company. Its segments include Consumer Banking, Global Wealth & Investment Management (GWIM), Global Banking and Global Markets. Consumer Banking segment offers a range of credit, banking and investment products and services to consumers and small businesses. The GWIM includes two businesses: Merrill Wealth Management, which provides tailored solutions to meet clients' needs through a full set of investment management, brokerage, banking and retirement products and Bank of America Private Bank, which provides comprehensive wealth management solutions. Global Banking segment provides a range of lending-related products and services, integrated working capital management and treasury solutions, and underwriting and advisory services. Global Markets segment offers sales and trading services and research services to institutional clients across fixed-income, credit, currency, commodity, and equity businesses.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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