On Monday, July 16, Bank of America [1] will report its second-quarter financial results. The bank said that the results would be released at around 6:45 a.m. ET, followed by an investor presentation at 8:30 a.m. ET.
For the first quarter, the bank reported record quarterly earnings of $6.9 billion on Monday, with its pretax earnings of $8.4 billion up 15 percent. Bank of America, which is among the nation's largest banks, also increased its lending during the quarter, driven by an increase in consumer spending. It reported an increase of 3 percent in loans to $352 billion. Its noninterest income increased $327 million to $11.5 billion marking a 3 percent increase over the last quarter, while its noninterest expenses declined 1 percent to $13.9 billion.
Here's what else is in store in The Week Ahead:
- NAR Housing Market Index, Tuesday, 10 a.m. ET
- Fed Chair Jerome Powell’s semiannual monetary policy testimony, Tuesday, 10 a.m. ET
- MBA Mortgage Apps, Wednesday, 7 a.m. ET
- Housing Starts Survey, Wednesday, 8:30 a.m. ET
Learn more about Housing and Financial Reports:
Bank of America Reports Record Earnings in Q1 [2]
Are Rising Housing Starts Really Balancing Demand? [3]
Powell’s Congressional Testimony Backs Further Interest Rate Hikes [4]