Bank of America stock steadies after earnings whiplash as rate-cap risk hangs over banks
Bank of America shares rose 0.2% to $52.59 in after-hours trading Thursday as investors weighed strong net interest income forecasts against policy risks from proposed credit-card rate caps. The bank reported fourth-quarter net income of $7.6 billion, beating estimates, and projected 7% net interest income growth this quarter. Average loans climbed 8% year-over-year. Attention shifts to the Fed’s Jan. 27-28 meeting.