Bank of America stock rises 3% as Wall Street rebounds — what BAC traders are watching next
Bank of America shares rose 3% to $56.59 Friday afternoon as U.S. bank stocks rebounded and the Dow hit a record 50,000. The bank said it will redeem all Series DD preferred stock on March 10 at $1,000 per depositary share. Traders shifted bets toward a March Fed rate cut after a delayed jobs report. JPMorgan, Wells Fargo, and Citigroup also posted gains.