Bullish mood lifts Bank of America to session high of $28.4

Published: May 27 2023, 03:35 GMT+0

Bullish mood lifts Bank of America to session high of $28.4

Yesterday at a glance: after closing at $28.17 on Thursday, Bank of America maintained a strong bullish bias that helped the stock close higher at $28.31 yesterday. However, market bears ensured the the giant US bank topped out at $28.4 and that by the end of the session, the market had marked out a distinct $27.79 to $28.4 range.

On the flip side, following a previous reading of 0.3%, Core Durable Goods Orders in United States released yesterday at 12:30 UTC fell short of the 0% figure expected by analysts with an actual reading of -0.2%.

Meanwhile, United States Core PCE Price Index (MoM) (Apr) released yesterday at 12:30 UTC with a figure of 0.4, while the previous figure was 0.3. Fresh CFTC Crude Oil speculative net positions data from United States came out at 193,100.

A look at other financials stocks also showed bullish price action as American Express gained 4.08%, as it traded at $157.24. Goldman Sachs added 2.51% to its value, and traded at $332. The Blackstone Group Inc. was up 2.6%.

On a negative trend for around a month. The giant US bank is now trading 17.41% below its 3-month high of $38.41.