Bank of America stock slips after Moynihan flags falling rates; payrolls report looms
Bank of America shares fell 1.8% to $55.39 in after-hours trading Tuesday, tracking declines in other major U.S. banks as Treasury yields slipped following flat December retail sales. CEO Brian Moynihan told investors he expects rates to keep falling and reported 5% higher customer spending in January. Traders increased bets on an April Fed rate cut ahead of Wednesday’s delayed U.S. payrolls report.