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Bank of America Corporation (BML-PG)

NYSE - Nasdaq Real Time Price. Currency in USD
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22.07+0.19 (+0.87%)
As of 11:29AM EDT. Market open.
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Trade prices are not sourced from all markets
Previous Close21.88
Open21.82
Bid21.88 x 800
Ask22.07 x 1100
Day's Range21.91 - 22.10
52 Week Range18.60 - 22.74
Volume2,833
Avg. Volume14,779
Market Cap298.018B
Beta (5Y Monthly)1.57
PE Ratio (TTM)9.47
EPS (TTM)2.33
Earnings DateN/A
Forward Dividend & Yield0.75 (3.41%)
Ex-Dividend DateMay 13, 2021
1y Target EstN/A
  • Copper and Iron Ore Surge as Chinese Investors Unleash Demand
    Bloomberg

    Copper and Iron Ore Surge as Chinese Investors Unleash Demand

    (Bloomberg) -- Spot iron ore broke $200 a ton for the first time, while copper rose above $10,000 as Chinese investors unleashed fresh demand following a three-day holiday.The reopening of major industrial economies is sparking a surge across commodities markets from corn to lumber, with tin climbing above $30,000 a ton for the first time since 2011 on Thursday. In the wake of mounting evidence of inflation -- fueled by higher raw materials prices -- investors are also increasingly focused on when the U.S. Federal Reserve might start throttling back its emergency support.Many banks say the rally has further to run, particularly for copper, which will benefit from rising investment in new energy sectors. Still, some analysts including Commerzbank AG’s Daniel Briesemann expect a short-term correction as metals become detached from fundamentals. There’s also a risk that China could engage in policies that may cool demand for iron ore and copper.“The long-term prospects for metals prices are ‘too good’ and point to higher prices in the next few years,” said Briesemann. “The decarbonization trends in many countries -- which include switching to electric vehicles and expanding wind and solar power -- are likely to generate additional demand for metals.”Copper climbed to the highest in a decade this week, fueling bets it will rally further to take out the record of $10,190 set in February 2011. Trading house Trafigura Group and several major Wall Street banks including Goldman Sachs Group Inc. and Bank of America Corp. expect copper to extend gains.Copper rose as much as 0.9% to $10,034 a ton on the London Metal Exchange before trading at $10,020.50 as of 1:40 p.m. in London.Benchmark spot iron ore prices rose to a record, while futures in Singapore and China climbed. Steel demand is surging as economies chart a path back to growth just as the world’s biggest miners have been hampered by operational issues, tightening ore supply.The boom comes as China’s steelmakers keep output rates above 1 billion tons a year, despite a swath of production curbs aimed at reducing carbon emissions and reining in supply. Instead, those measures have boosted steel prices and profitability at mills, allowing them to better accommodate higher iron ore costs.Spot iron ore with 62% content hit $201.15 a ton on Thursday, according to Mysteel. Futures in Singapore jumped as much as 5.1% to $196.40 a ton, the highest since contracts were launched in 2013. In Dalian, prices closed 8.8% higher.Read more: Copper’s Surge Toward a Record High Is Hitting Chinese IndustryThe metals rally has boosted concerns about short-term Chinese demand. Some manufacturers and end-users have been slowing production or pushing back delivery times after costs surged, while weaker-than-expected domestic consumption has opened the arbitrage window for exports.Tin rallied as much as 2% to $30,280 a ton on the LME, boosted by rising orders for the soldering metal. Tin is at the highest since May 2011, with a 48% gain this year making it the best performing metal on the LME.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • Results tally up billions in profit from Texas freeze for gas and power sellers
    Reuters

    Results tally up billions in profit from Texas freeze for gas and power sellers

    Natural gas suppliers, pipeline companies and banks that trade commodities have emerged as the biggest market winners from February's U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports. The deep freeze caught Texas's utilities off-guard, killed more than 100 people and left 4.5 million without power. Demand for heat pushed wholesale power costs to 400 times the usual amount and propelled natural gas prices to record highs, forcing utilities and consumers to pay exorbitant bills.

  • Reuters

    FOCUS-Results tally up billions in profit from Texas freeze for gas and power sellers

    Natural gas suppliers, pipeline companies and banks that trade commodities have emerged as the biggest market winners from February's U.S. winter blast that roiled gas and power markets, according to more than two dozen interviews and quarterly earnings reports. The deep freeze caught Texas's utilities off-guard, killed more than 100 people and left 4.5 million without power. Demand for heat pushed wholesale power costs to 400 times the usual amount and propelled natural gas prices to record highs, forcing utilities and consumers to pay exorbitant bills.