US Stocks Edge Lower; Bank of America Profit Tops Views – Bank of America (NYSE:BAC), Hldgs (NYSE:BBAI)

US stocks were lower this morning, with the Dow Jones down about 50 points on Friday.

After the market opened on Friday, the Dow fell 0.14% to 34,141.19 while the NASDAQ fell 0.40% to 10,956.69. The S&P 500 also fell, falling 0.45% to 3,965.34.

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Leading and lagging sectors

Healthcare stocks rose 0.5% on Friday. Meanwhile, there are industry-leading earnings Praxis Precision Medicines, Inc. PRACTICE45% more, and Biomea Fusion, Inc. BMEA7%.

In trading on Friday, financial stocks fell 1%.

Top holder

Bank of America Corporation BAC reported better-than-expected profits for its fourth quarter.

Bank of America reported quarterly earnings of $0.85 per share, beating market estimates of $0.77 per share. The bank’s quarterly sales were $24.5 billion, versus expectations of $24.33 billion.

UP variable income negotiation

  • MGO Global Inc. MGOL shares rose 55% to $7.74. MGO Global priced its IPO of 1.5 million shares at $5 per share.
  • Shares of ZyVersa Therapeutics, Inc. ZVSA got a boost, shooting up 39% to $3.58.
  • HTG Molecular Diagnostics, Inc. HTGM shares also rose, gaining 38% to $6.56.

Downward share of variable income

  • Holdings, Inc. BBAI shares fell 22% to $2.37. Shares of BigBear.Ai surged 260% on Thursday after the company announced that the US Air Force awarded it a $900 million indefinite delivery/indefinite quantity contract.
  • Shares of Bakkt Holdings, Inc. BKKT they fell 22% to $2.1814.
  • MultiMetaVerse Holdings Limited. MMV down, falling 14% to $2.96. MultiMetaVerse recently announced a letter of intent to acquire a majority stake in Taomee.

Also check this: The 5 Most Expensive Health Care Stocks You Should Worry About


In commodity news, oil rose 0.6% to $78.89, while gold rose 0.7% to $1,911.10.

Silver rose 0.6% to $24.150 on Friday, while copper fell 0.3% to $4.1830.

euro zone

European stocks were higher today. The eurozone’s STOXX 600 rose 0.5%, London’s FTSE 100 rose 0.7% while Spain’s IBEX 35 rose 0.7%. Germany’s DAX rose 0.3%, France’s CAC 40 rose 0.7% and Italy’s FTSE MIB rose 0.1%.

The euro zone’s trade deficit widened to 11.7 billion euros in November, from 3.9 billion euros in the period last year. Industrial production in the Eurozone rose 1% month-on-month in November. Industrial production in the UK fell by 0.2% from a month ago in November, while the country posted a trade deficit of GBP 1.8 billion in November. The British economy grew by 0.1% in November compared to the previous month.

Germany’s economy expanded 1.9% in 2022, slowing from 2.6% growth in 2021, while industrial production in Italy fell 0.3% from a month ago in november Spanish consumer price inflation was revised down to 5.7% year-on-year in December, while the annual inflation rate in France stood at 5.9% in December.

Asia Pacific markets

Asian markets closed mixed on Friday, with Hong Kong’s Hang Seng index gaining 1.04% and China’s Shanghai Composite index up 1.01%. Japan’s Nikkei 225 fell 1.25%.

China’s trade surplus fell to $78.01 billion in December compared to a revised $93.21 billion in the same month a year earlier.


  • US import prices rose 0.4% from a month ago in December, while export prices fell 2.6% from the previous month.
  • University of Michigan consumer sentiment rose to 64.6 in January from 59.7 in December.

Now read this: Fear and Greed Index Moves into ‘Greed’ Zone After Inflation Report

COVID-19 update

The United States has the highest number of coronavirus cases and deaths in the world, with a total of 103,426,740 cases with about 1,124,390 deaths. India confirmed a total of at least 44,681,880 cases and 530,720 deaths, while France recorded more than 39,435,930 cases of COVID-19 with 163,240 deaths. In total, there were at least 670,547,280 cases of COVID-19 worldwide with more than 6,724,860 deaths.


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