New York, February 2, 2026, 14:57 EST — Regular session
- Bank of America shares rose roughly 1.4%, trading near $54 in afternoon session
- Big-bank peers rise amid a slight uptick in bond yields and improved risk appetite
- Up next: Feb. 4 Treasury refunding announcement and ADP private payrolls data; Moynihan slated to speak at an investor conference on Feb. 10
Bank of America shares climbed roughly 1.4% to $53.94 in afternoon trading on the New York Stock Exchange Monday, bouncing back after an early slide. The stock gained around 74 cents from Friday’s $53.20 close, fluctuating between $52.99 and $54.08. Roughly 19.5 million shares traded hands.
The stock’s move followed a broader shift in rates after Donald Trump nominated Kevin Warsh to head the Federal Reserve. The 10-year Treasury yield climbed about 0.03 percentage point to 4.271%. Traders also braced for policy decisions this week from the European Central Bank, Bank of England, and Reserve Bank of Australia. “The key thing that seemed to turn sentiment today is a push back to focusing on fundamentals,” said Carol Schleif, chief market strategist at BMO Private Wealth. Reuters
Wall Street edged closer to record highs, driven by gains in chipmakers and other AI-focused stocks that boosted the S&P 500. “The fundamentals are good and earnings are strong,” said Tim Ghriskey, senior portfolio strategist at Ingalls & Snyder. The Bureau of Labor Statistics announced the January employment report won’t come out Friday because of the partial government shutdown. Reuters
JPMorgan Chase & Co climbed roughly 0.9%, Wells Fargo & Co jumped around 2.1%, and Citigroup Inc increased by about 0.9%. The Financial Select Sector SPDR Fund rose close to 1.1%.
Bank of America topped fourth-quarter profit estimates last month and projected a 7% increase in net interest income (NII) for the current quarter. The bank also confirmed its forecast for NII growth of 5% to 7% in fiscal 2026. CEO Brian Moynihan said, “While any number of risks continue, we are bullish on the U.S. economy in 2026.” Reuters
The card business is back under political scrutiny, which could quickly sour investor sentiment. Bank of America has considered rolling out new credit cards with a 10% interest rate in response to Trump’s call for a cap, Reuters reported, citing an insider. Citi has explored similar moves. Analysts told Reuters such a broad cap would almost certainly require new legislation, while executives have warned it might push banks to scale back lending.
Bank of America’s investor calendar reveals that Moynihan is set to speak at the BofA Securities Financial Services Conference on Feb. 10, 8:00 a.m. ET.
Traders are set to dig into the upcoming private payrolls data next. ADP announced its January employment report is due out Feb. 4 at 8:15 a.m. ET.
On Feb. 4, the U.S. Department of the Treasury will unveil its quarterly refunding announcement. For Bank of America shares, the key question is whether this move shifts yields — and with them, the bank’s stock.
