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.

Supply

Finance

Kevin Hassett pivots to possible ‘Trump cards’ amid credit card battle with banks

January 16, 2026

Key Points Kevin Hassett told Fox Business that U.S. banks could voluntarily provide credit cards to underserved Americans. President Donald Trump called for banks to cap credit card interest rates at 10%, an idea that has been roundly rejected by industry executives and their lobbyists this week. At least one major credit card issuer and […]

Finance

Stocks making the biggest moves midday: Novo Nordisk, Vistra, GE Vernova, Regions Financial and more

January 16, 2026

Check out some of the companies making headlines in midday trading: Novo Nordisk — The maker of the Wegovy obesity treatment jumped more than 4% as sales of its oral weight loss treatment got off to a strong start. In the first week of its launch, about 1.3% of Wegovy prescriptions were for the oral […]

Finance

Stocks making the biggest moves premarket: PNC, ImmunityBio, Coupang & more

January 16, 2026

Check out the companies making headlines before the bell. ImmunityBio — The biotech company rallied 22%, adding to a 30% rally in the previous session that was sparked by strong guidance for its bladder cancer drug Anktiva. ImmunityBio expects full-year revenue for the drug to jump 700%. Coupang — Shares rose more than 3% after […]