#$BAC is an active hashtag on Bluesky. In the last 30 days, 16 people shared 25 posts with it — around 1 a day. Activity is down 36% versus the previous week, peaking on Sep 15 with 6 posts.
www.bloomberg.com
JPMorgan and BofA CEOs Predict New Round of Trading Windfalls
Wall Street banks are predicting another banner quarter for their trading desks.
www.bloomberg.com
Five Bank Earnings in a Day Has Even Mike Mayo Skipping the Gym
Even for Mike Mayo, the analyst known for going round for round with bank CEOs each quarter, the quintet of major Wall Street firms reporting earnings in one day will be brutal.
Stephen Bush @stephenkb.bsky.social
A vague theory I have is that it is really useful to, early on in your life and career, do something you are just really bad at by mistake. (I don't think anyone learns anything particularly useful from failing at something they knew going in was a challenge.)
Chris Whittall @chriswhittall.bsky.social
Bank of America credit and debit card data showing a significant boost to retail spending in host cities 'Since the BAC card data only cover US-based households, the "World Cup effect" is likely much larger than the data suggest.'
Rahul Sharma @retailguru.bsky.social
$WFC especially upbeat on consumer citing consistently improving quality & like $JPM steady trends by income. Again down to steady jobs & wage gains. Commercial also healthy but much more cautious about investing but not retrenching. $BAC $XLF $XLY $XLI
notreload.xyz
Schwab Slides as Vanguard-Altruist Deal Fuels AI Fears
Vanguard’s reported $4B–$4.6B Altruist deal revived fears that AI will disrupt brokerage custody and idle client cash that funds broker profits.
Rahul Sharma @retailguru.bsky.social
$WFC says consumer not just 'resilient' but 'strong'. Consistent spending on debit & credit week after week even if categories shift. Credit quality still excellent. Cites wage gains, strong labor market. Doesn't believe small rate rises will derail this. $BAC $JPM $XLY $XLF $XLI
Rahul Sharma @retailguru.bsky.social
$BAC also sees signs of rising confidence amid SMEs. Using LOCs more, credit quality still good & loan growth solid. All that driving steady employment = solid economy. Of course, geopolitics & current administration keeps throwing googlies... $XLI $XLY $XLF $AXP
Rahul Sharma @retailguru.bsky.social
$BAC CEO highlights solid +4% US consumer spend in August. Gas part of that but so is very discretionary stuff. Cites wage growth, steady jobs & credit quality normalising near 40-year lows. No signs of stress: consumer 'continues to spend' $XLF $V $MA $XLY $XRT $AXP $COF
Rahul Sharma @retailguru.bsky.social
$BAC CEO highlights solid +4% US consumer spend in August. Gas part of that but so is very discretionary stuff. Cites wage growth, steady jobs & credit quality normalising near 40-year lows. No signs of stress: consumer 'continues to spend' $XLF $V $MA $XLY $XRT $AXP $COF
Rahul Sharma @retailguru.bsky.social
Mastercard (unsurprisingly) echoes Visa. August continued July trends. $MA also keen to point out how, across board, consumers spending on experiences like eating out, movies & travel. Strength in some of the most discretionary areas. $V $AXP $XLF $XLY $CCL $DAL $MAR $SBUX
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