Bank of America CEO says trading revenues are holding solid

Yesterday, JP Morgan Chase at their investor conference, had CEO Jamie Dimon speaking positively about the banks earning potential and his view that the US economy and consumer remained strong.

The comments helped to boost the financial sector with J.P. Morgan's shares rising around 7%.

Today, the Bank of America CEO, Brian Moynihan is on the wires saying that:

• Trading revenues are holding solid
• "Nothing will slow" the consumer down right now
• He notes that account balances are multiples bigger than pre-Covid levels

Increase regulation Regulation Regulation is a key attribute of any forex broker in the retail industry. When investing money with a brokerage it is important to first see if they are regulated as this affords several client protections and safeguards.The financial services industry is tightly regulated to help prevent illicit behavior and manipulation. This is not unlike any other industries with a high net worth, that rely on transparency.Each asset class has its own set of protocols put in place to combat their respective Regulation is a key attribute of any forex broker in the retail industry. When investing money with a brokerage it is important to first see if they are regulated as this affords several client protections and safeguards.The financial services industry is tightly regulated to help prevent illicit behavior and manipulation. This is not unlike any other industries with a high net worth, that rely on transparency.Each asset class has its own set of protocols put in place to combat their respective Read this Term has bank balance sheets in better condition. Account balances being higher provides some comfort from the imminent real estate drawdown Drawdown In financial trading, the drawdown represents the amount of money a trader can lose or has lost, following a series of losing trades. This is measured from the high of the trader’s capital to its low, over a given period of time. This is usually expressed as a percentage of a trader’s account. The current drawdown is simply the amount of money a trader’s balance has been reduced by in a given time, without necessarily closing out at that point.For example, if a trader placed an initial deposit o In financial trading, the drawdown represents the amount of money a trader can lose or has lost, following a series of losing trades. This is measured from the high of the trader’s capital to its low, over a given period of time. This is usually expressed as a percentage of a trader’s account. The current drawdown is simply the amount of money a trader’s balance has been reduced by in a given time, without necessarily closing out at that point.For example, if a trader placed an initial deposit o Read this Term (although I am sure there are plenty of winners and losers too).

Fed's Bullard stated last week that he expects growth to remain above trend through the year. and that his perception is that the US will not go into a recession in 2022 or 2023.

Today however, the data - in particular the housing data - has the markets nervous, but off their low levels. The prices also remain above the cycle lows reached last week.

• The NASDAQ index is currently down -382 points or -3.31% at 11152.42. The low price reached 11092.48. The low price last week reached 11035.69.
• The S&P index is down -83.5 points or -2.08% at 3891.13. The low price reached 3875.13. That is still 65 points above the low price from last week at 3810.32.
• The Dow industrial average is down -382 points -1.2% at 31497. The low price reached 31365.59. The low last week reached 30635.76.