A second big-bank CEO in as many days is sharing upbeat sentiment about the U.S. economy.
Bank of America’s (BAC) Brian Moynihan on Wednesday said while reporting the bank’s latest quarterly financial results that he expects “further economic growth in the year ahead.”
The statement followed comments yesterday from JPMorgan Chase (JPM) chief Jamie Dimon, who referenced a “resilient” economy but also highlighted a set of “hazards,” including inflation and geopolitical risks, that he thought markets were underappreciating.
“With consumers and businesses proving resilient, as well as the regulatory environment and tax and trade policies coming into sharper focus, we expect further economic growth in the year ahead,” Moynihan said in a statement. “While any number of risks continue, we are bullish on the U.S. economy in 2026.”
Broadly speaking, Wall Street’s outlook for 2026 remains bullish, with many banks expecting stocks to continue their rise this year. Still, several experts warn of the possibility of volatility along the way. Here’s Investopedia’s preview of what could happen with the stock market this year.
This week brings several new economic readings, including today’s reports on retail sales for November, which rose year-over-year, and wholesale inflation, which ticked higher between September and November.
Tuesday’s release of the December CPI report on consumer inflation showed the measure rising 2.7% year-over-year, in line with what economists expected.
Bank of America said fourth-quarter net income, revenue and net interest income—the profit earned on the bank’s credit products minus the interest paid to depositors—all rose.
Meanwhile, other major U.S. banks are reporting this week. Wells Fargo (WFC) and Citigroup (C) also reported Wednesday; Goldman Sachs (GS) and Morgan Stanley (MS) are due to announce Thursday, as is financial services giant BlackRock (BLK).
Bank of America’s shares were down more than 4% late Wednesday morning. The KBW index of big banks, meanwhile, was off 1.3%. Read Investopedia’s full coverage of today’s trading here.