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 Summary List Placement Chase and Bank of America are two of the largest banks in the US. Chase offers a $150 bonus for opening a savings account, while BofA doesn't have a savings bonus.   See Insider's picks for the best national banks » Should you bank with Chase or Bank of America? You might prefer Chase if you: You might prefer Bank of...

Summary List PlacementBank of America's sprawling wealth management arm has maintained its months-long pause on financial advisor trainees' client outreach, a temporary hold that can complicate the business growth that new advisors need to thrive. The temporary pause on trainees' prospecting, or reaching out to someone who could turn into a potential client, has remained in part because novice advisors in Merrill Lynch Wealth...

Summary List PlacementBanking giant JPMorgan Chase will not give money to President-elect Joe Biden's inauguration, the company told Insider on Wednesday.  It's a shift from the last inauguration when the company donated $500,000 to President Donald Trump's 2017 inauguration, according to federal records. It did not contribute to Obama's 2013 inauguration. JPMorgan's decision comes as other companies line up to donate to Biden's inauguration,...

US tech stocks have overtaken the entire European stock market in market value as investors crowd into mega-caps to ride out the coronavirus pandemic. The tech sector is now worth $9.1 trillion, Bank of America said Thursday, while European stocks — including those in the UK and Switzerland — are worth a collective $8.9 trillion. The five largest US tech stocks — Apple, Microsoft,...

Bank of America's chief operations and technology officer Cathy Bessant spoke to a group of students graduating the Year Up program on Thursday. Bessant opened up about how companies need to address racial inequality: "Racial equality and economic mobility go hand in hand." "It's one thing to say, 'lives matter.' It's another thing to say, with clarity, 'Black lives matter, brown lives matter,'" Bessant...

Wall Street bullishness surged the most in two years last month as economic reopenings lifted investor optimism, Bank of America said Wednesday. The firm's Sell Side Indicator gained to 55.8% from 54.9% in June, a sizable increase but still "far from the euphoria one sees at the end of bull markets." The reading also implies an 11% return for the S&P 500 over the...

  The Chase Savings℠ Account (Member FDIC) and Chase Premier Savings℠ Account (Member FDIC) both pay 0.01% APY on your savings balance. With Chase Premier Savings, you can earn relationship rates (between 0.02% and 0.05% APY) by linking to an eligible checking account and making five monthly transactions from the linked account. Chase savings interest rates are low compared to high-yield savings account rates,...

The shrinking premium of stay-at-home stocks over business-as-usual firms could mean the end of the S&P 500's reopening enthusiasm, Bank of America said Monday. Quarantine plays including Zoom and FedEx commanded a 40% premium in March over firms slammed by the coronavirus pandemic. The market has since split the difference between the premium's pre-outbreak discount and March's peak. "We think the market could be...

In a note published on Monday, Bank of America listed three stocks to buy on bullish technical breakouts. The stocks are on the verge or have already moved above a key resistance level, signaling that more upside is to come. The two stocks that already broke above resistance and should see continued upside are Apple and Nintendo, while Amgen is on watch for a...

Large-cap long-only funds are the most underweight in financial stocks in nearly a decade as firms trade profits for loan-loss protections, Bank of America said Friday. Hedge funds made similar retreats, reaching record-low positioning in the sector last month and only barely ticking higher through May. Fund concentration in major tech names continued to swell, the firm said. Long-only funds notched another record-overweight positioning...

  The average savings account interest rate is .06% as of May 26, 2020, according to data from the Federal Deposit Insurance Corporation.  Savings accounts at national brick-and-mortar banks may earn even less than the average, with Chase, Bank of America, and Wells Fargo savings accounts earning .01% APY. But, there's an easy way to earn higher savings account interest rates: Opt for a...

The attractiveness of US assets relative to the rest of the world is brewing a bubble in the stock market, according to equity-derivatives strategists at Bank of America.  They formulated a cheap strategy designed to profit from limited gains in some of the worst-performing stocks.  Click here for more BI Prime stories.  Stock-market rallies do not have to be as monumental as the dot-com...

The coronavirus sent Wall Street banks scrambling to put in place work from home policies to protect workers and clients and make sure business can carry on with as little disruption as possible.  The US is grappling with the economic consequences of the pandemic, which has roiled global markets and shut down much of the country. Firms are starting to realize that their contingency...

Merrill Lynch, Bank of America's wealth management arm, has created a new role, the national business development executive. It's appointed a former market executive, Craig Young, to the post. Young will focus on leveling advisers' performance across the US, aiming to ensure that "there's not much distance between our best-performing and our worst-performing markets," said Andy Sieg, the president of Merrill Lynch Wealth Management,...

"Twin bubbles" in financial markets are poised to peak in the second quarter, according to Michael Hartnett, the chief investment strategist of Bank of America. He explains the factors that could end these displays of "irrational exuberance," and shares his investing strategy for right now. Click here for more BI Prime stories. The Federal Reserve has played an outsized role in simultaneously securing the...

Economists are lowering their fourth-quarter GDP expectations as holiday sales arrive lower than anticipated and utility use slows. Bank of America slashed its fourth-quarter growth estimate to 2% from 2.2%, while JPMorgan Chase dropped its expectation to 1.5% from 2%. The Federal Reserve Bank of Atlanta similarly pulled its projection lower, citing soft December retail sales for adjusting real GDP growth in the fourth...

English Premier League soccer club Tottenham Hotspur have refinanced the debt on their new stadium via the lucrative US private placement market and a loan with Bank of America.  It's a growing trend for major sports brands following similar moves into the bond market by European heavyweights Manchester United and Juventus. Tottenham will see the maturities on their debt extended and the average interest...

This is a preview of a research report from Business Insider Intelligence. Current subscribers can read the report here. The digitization of daily life is making phones and connected devices the preferred payment tools for consumers — preferences that are causing digital payment volume to blossom worldwide. As noncash payment volume accelerates, the power dynamics of the payments industry are shifting further in favor...