US luxury sales see 12% decline in March: BofA

US luxury spending saw a 12% decline in March. However, the global luxury landscape has shown more fluctuating trends. Luxury conglomerate LVMH (MC.PA), the parent company of brands like Louis Vuitton and Dior, highlighted strong performance in other regions, notably the Middle East and Europe. Yahoo Finance's Madison Mills breaks down the details. For more expert insight and the latest market action, click here to watch this full episode of Wealth! This post was written by Angel Smith

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  Bank earnings reveal capital markets' 'resurgence': Analyst

  Yahoo Finance Video
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  Big bank earnings show consumers may be losing spending steam

  Yahoo Finance Video

Bank earnings, stock futures, oil prices: 3 Things

Bank of America (BAC) and Morgan Stanley (MS) both topped their first-quarter earnings estimates with the major bank stocks rising ahead of Tuesday's market open. US equity futures (^DJI, ^IXIC, ^GSPC) are ticking up in pre-market trading after all three of the market indices closed Monday lower. Oil prices (CL=F, BZ=F) slip as investors wait to see if Israel will retaliate against Iran after the latter coordinated an air assault against Israeli military bases on April 13. For more expert insight and the latest market action, click here to watch this full episode of Morning Brief. This post was written by Luke Carberry Mogan.

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  Wall Street surge lifts Morgan Stanley and new CEO Ted Pick

  Yahoo Finance
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  Bank of America profits drop as key lending revenue weakens

  Yahoo Finance

Big Bank earnings, March housing data: What to Watch

The first-quarter earnings season is in full swing, with major companies reporting their results throughout the day on Tuesday, April 16. Among them include Big Bank stocks Bank of America (BAC), Morgan Stanley (MS), and PNC Financial Services Group (PNC). Market Domination Overtime's Julie Hyman and Josh Lipton highlight the other companies also set to report earnings and the US housing starts print expected out tomorrow. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Luke Carberry Mogan.

Big banks led by Citi continue layoffs amid pressure to cut costs

U.S. banking giants continued to shed employees in the first quarter, with Citigroup seeing the biggest drop. Headcount at Citi declined by 2,000 employees after the third-largest U.S. lender completed a sweeping reorganization aimed at improving profits and reducing management layers. Bank of America, Wells Fargo and PNC Financial together cut more than 2,000 jobs in the three months ended March 31 compared with the previous quarter.

Bank of America Losses on Bond Portfolio Hit $109 Billion in First Quarter as Rates Rose

Bank of America adjusted earnings topped expectations in the first quarter, but one part of the company’s financial results worsened: the big paper losses on a key portion of its enormous bond portfolio. Bank of America shares, however, were down 2.3% to $35.03 in early trading Tuesday. The bank said that its unrealized losses on a $587 billion portfolio of bonds that are classified as held to maturity for accounting purposes widened by $11 billion to $109 billion on March 31 from $98 billion at year-end 2023.

BofA’s mortgage production falls in Q1

The top-20 U.S. mortgage lender produced a volume of $3.4 billion in first mortgages from January to March, it reported on Tuesday.

Big Banks’ Upbeat Quarter Reflects Resilient Economy

Top U.S. banks, including Bank of America, JPMorgan and Goldman, posted better-than-expected earnings thanks to strong consumer spending and a flurry of Wall Street activity.

Bank of America Posts Strong Adjusted Profit and Net Interest Income, but the Stock Drops

Bank of America’s adjusted earnings in the first quarter were 83 cents a share, beating analysts’ estimates of 76 cents.

Bank of America Earnings Drop, Under Pressure From Higher Rates; Stock Falls

Bank of America reported a 18% drop in first-quarter profit, the latest big lender to feel the squeeze of higher interest rates. BofA's shares were recently down about 4%, outpacing a decline in an index of big bank shares. Here’s a rundown of the bank's results, out this morning: + BofA took a special charge of $700 million to pay the Federal Deposit Insurance Corp. over last year’s bank failures, on top of the $2.1 billion charge it booked last quarter.

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  Bank of America's Q1 profits fall 18% on higher expenses, charge-offs

  Associated Press Finance
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  Bank of America Posts Strong Adjusted Profit and Net Interest Income, but the Stock Drops

  Barrons.com

BofA Shares Drop as Charge-Offs for Soured Loans Top Estimates

(Bloomberg) -- Bank of America Corp. reported elevated expenses and charge-offs for soured loans that were higher than analysts expected, failing to satisfy investors with a gain in its trading business.Most Read from BloombergChina Tells Iran Cooperation Will Last After Attack on IsraelBeyond the Ivies: Surprise Winners in the List of Colleges With the Highest ROITreasury Yields Hit 2024 Highs as Powell in Focus: Markets WrapIMF Steps Up Its Warning to US Over Spending and Ballooning DebtIran’s