Reported about 24 hours ago
Bank of America and Citigroup reported significant increases in first-quarter profits, largely due to strong trading results stemming from market volatility associated with President Trump’s tariff initiatives. CEO Brian Moynihan highlighted potential future economic changes despite a currently robust outlook from consumers and businesses. The report also noted mixed results in investment banking amid ongoing trade uncertainties, with both banks seeing substantial gains in trading revenues, marking the highest quarterly performances in years.
Source: YAHOO