Bank of America clients are shelling out far more and which is supporting U.S. work, CEO claims

Key Factors

The bank’s prospects boosted expending by 8% in the first 3 months of this yr compared with the year-earlier period, Moynihan stated on Tuesday.
“They are spending on factors frankly which drive work, this means they are spending on encounters at amusement parks and theaters or places to eat or outside the house concert events,” Moynihan said.
Moynihan reiterated that his bank’s economists see a mild recession in the next 50 % of this year.

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Finance

Stocks making the biggest moves midday: Novo Nordisk, ServiceNow, Freeport-McMoRan, Structure Therapeutics & more

December 23, 2025

Check out the companies making headlines in midday trading. ServiceNow — Shares of the software company fell nearly 3% after it said it would acquire cybersecurity startup Armis for $7.75 billion . The deal, which should close next year, will bolster ServiceNow’s cybersecurity offerings. Mining stocks — With prices of gold, silver and copper at […]

Finance

Here’s how AI could influence the Fed’s economic outlook

December 23, 2025

Key Points Members of the Federal Open Market Committee are factoring rising labor productivity in their economic forecasts. In a long-run “unbounded growth” scenario where AI is fully developed, up to 23% of workers may lose employment and labor productivity increases by as much as three to four times, according to a May 2025 research […]

Citadel to return billion in profit to investors, source says

Finance

Citadel to return $5 billion in profit to investors, source says

December 23, 2025

Key Points The firm’s flagship-multistrategy fund, known as Wellington, gained 9.3% in the year through last week, the person said, who asked not to be named discussing performance details. The profit being returned is not all that was generated in 2025, the person said, but rather, a way of constraining capital amid what the fund […]