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0.000280007466865794 -0.000186671644577152 -0.00112189658390888 -0.0065335075602015 -0.00168004480119463 -0.00168004480119463 -0.00168004480119463 -0.00168004480119463
Stock impact report

Bank of America CEO drops blunt take on economy as oil prices climb [Yahoo! Finance]

Bank of America Corporation (BAC) 
Last bank of america corporation earnings: 4/15 06:45 am Check Earnings Report
US:NYSE Investor Relations: investor.bankofamerica.com
Company Research Source: Yahoo! Finance
In a recent Fox News special , Moynihan argued that an extended conflict will likely choke off petroleum-dependent products, making inflation harder to control. The latest move on the Iran conflict is towards a fresh round of ceasefire talks in Pakistan, but the outlook remains shaky. Moreover, the ceasefire is expected to wrap up late Wednesday, and the U.S. continues to block Iranian ports, with Iran reimposing its closure of the Strait of Hormuz after briefly lifting it. Consequently, oil prices have risen over the past three trading days. Early Tuesday, Brent traded around $94.94, and WTI around $88.50. Compared to April 17, Brent has climbed roughly $4.56, or 5%, over that period, while WTI is up about $4.65, or 5.5%. Surprisingly, Moynihan's warning comes amidst a relatively steady near-term outlook. BofA economists still expect the U.S. economy to grow 2.1% this year, even after slashing their forecast by half a point due to the war and elevated energy costs. I Show less Read more
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