The Motley Fool Previous Page

2 Big Reasons Bank of America Will Skyrocket Today

Amanda Alix
July 8, 2013

It's early in the trading week, but it is apparent that the banking sector is still gleaming from the decent jobs report last Friday, which revealed that nearly 200,000 new jobs were added to the economy in June. Though the report was far from perfect, the unexpected increase in employment gave rise to a Wall Street cheer that buoyed the stocks of Bank of America (NYSE: BAC), Citigroup, JPMorgan Chase (NYSE: JPM), and Wells Fargo (NYSE: WFC) -- as well as the Dow and S&P 500.

All of the above are still aglow by mid-morning, with Bank of America up nearly 1% so far. I feel sure that the residual good feelings regarding the employment report will linger throughout the day, keep the banking sector safely in the green. Despite the fact that the happy news could cause another spike in mortgage rates, which would likely affect Wells, JPMorgan, and B of A, positivity will probably reign, at least for today.

The hiatus is over: Article 77 hearing continues
Another issue that could catapult Bank of America higher today is the