New York, Feb 7, 2026, 11:25 EST — The market is shut.
- Bank of America shares closed out Friday on the upswing, joining a wave of gains across U.S. financial names.
- Back in March, the bank opted to redeem its Series DD preferred issue, along with the associated depositary shares.
- U.S. jobs and inflation reports, both delayed, are due next week. Also on tap: a scheduled CEO appearance at a bank conference.
Bank of America Corp shares finished Friday up 2.89% at $56.53, according to the bank’s investor relations site. The stock moved within a range of $55.29 to $56.87 for the session.
U.S. markets are closed for the weekend, leaving investors eyeing what’s ahead for rates and risk appetite next week. For big banks, the bond market’s moves matter—lending margins, credit demand, and trading revenue can all shift on the back of those changes.
Key data points out of the U.S. got bumped after the appropriations delay, shifting the calendar. The Labor Department’s January jobs report is now set for Feb. 11, with January CPI following on Feb. 13.
Wall Street’s main indexes snapped back sharply on Friday, carrying the Dow across 50,000 for its first-ever close above that milestone. “What’s driven it recently has been the broadening … other than just the tech trade,” said Chuck Carlson, chief executive officer at Horizon Investment Services. Reuters
Banks traded higher. Citigroup surged 6% on Friday; JPMorgan Chase tacked on 3.95%, and Wells Fargo was up 2.63%, MarketWatch figures showed.
There was also movement on the company front. Bank of America announced plans to redeem every outstanding share of its Series DD fixed-to-floating rate non-cumulative preferred stock, along with the depositary shares tied to it, set for March 10. Holders will get $1,000 per depositary share.
Preferred stock holds a higher spot than common shares in a bank’s capital structure, usually offering a fixed dividend. Depositary shares let investors own a fraction of a preferred stock issue, breaking it down into more manageable pieces for trading.
In a regulatory filing, Bank of America CEO Brian Moynihan reported donating 100,000 shares to charity on Feb. 4. Form 4s track insider moves ranging from gifts like this to planned transfers and sales.
Bulls have something to lose: fresh data could turn the rate narrative upside down all over again. If inflation comes in hot, or payrolls disappoint, Treasury yields may jump and bank stocks could swing right alongside.
First up: Bank of America has Moynihan slated to speak at the BofA Securities Financial Services Conference, scheduled for 8:00 a.m. ET on Feb. 10, according to the company’s event page.
