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Stock impact report

Stock market today: Dow falls 375 points as traders brace for new inflation data after weak GDP [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
Commentators pointed out that the data was still mostly strong but inflation is problematic. Stocks fell on Thursday, with the Dow Jones Industrial Average losing 375 points as the market took in weaker-than-expected economic data. Growth slowed but inflation stayed high last quarter, a discouraging sign for traders as they look for signs the Federal Reserve will soon cut interest rates. Slowing growth and high inflation is a tough scenario for the economy and has led to "stagflation" in previous eras, like the 1970s. Yet, several banks noted that the data is still upbeat under the surface. Barclays and Bank of America both noted that demand looks to be solid still, evidenced by sales to domestic purchases, which came in at 2.8% for the quarter. However, inflation was a nasty surprise, and the situation could be complicated even more by Friday's personal consumption expenditures report, which is the Fed's preferred measure of inflation. Bank of America analysts said that they Show less Read more
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