Bank of America Corp
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Financials : Banks | Large Cap Value
Company profile

Bank of America Corporation is a bank holding company and a financial holding company. The Company is a financial institution, serving individual consumers and others with a range of banking, investing, asset management and other financial and risk management products and services. The Company, through its banking and various non-bank subsidiaries, throughout the United States and in international markets, provides a range of banking and non-bank financial services and products through four business segments: Consumer Banking, which comprises Deposits and Consumer Lending; Global Wealth & Investment Management, which consists of two primary businesses: Merrill Lynch Global Wealth Management and U.S. Trust, Bank of America Private Wealth Management; Global Banking, which provides a range of lending-related products and services; Global Markets, which offers sales and trading services, and All Other, which consists of equity investments, residual expense allocations and other.

Postmarket

Last Trade
Delayed
$35.50
-0.03 (-0.08%)
Bid
--
Ask
--
B/A Size
--

Market Hours

Closing Price
$35.53
Day's Change
-0.26 (-0.73%)
Bid
--
Ask
--
B/A Size
--
Day's High
35.94
Day's Low
35.50
Volume
(Light)
Volume:
41,108,163

10-day average volume:
56,491,969
41,108,163

UPDATE: A death cross is slowly forming in gold prices, even as futures rise Tuesday

12:44 pm ET December 1, 2020 (MarketWatch)
Print

Gold futures are gradually seeing a death cross form on the price charts that many technical strategists believe may cement a bearish trend.

A death cross occurs when the 50-day moving average, which many chart watchers use as a short-term trend tracker, crosses below the 200-DMA, which is widely viewed as a dividing line between longer-term uptrends and downtrends. The idea is that the cross marks the spot that a shorter-term selloff can be defined as a longer-term downtrend.

Presently, gold's 50-day moving average stands at $1,884.88 an ounce, while its 200-day moving average is at $1,803.82, according to FactSet data (see attached chart).

Although, the 50-day remains above the 200-day by a little over $80, that represents just a 4.5% margin as gold's price has been steadily under pressure in recent weeks as progress in developing COVID-19 vaccines has cast a bearish pall on the asset that had enjoyed a strong updraft above $2,000 during the period this spring in which fears about the spread of the pandemic seemed starkest.

At last check (https://www.marketwatch.com/story/gold-prices-see-biggest-daily-jump-in-3-weeks-to-start-december-11606829678?mod=metals-stocks), February gold (ABX.T) was up $33.20, or 1.9%, at $1,814.40 an ounce, following a 0.4% decline on Monday that saw it mark its lowest settlement since July 1 and a 5.6% decline in November.

Death crosses, or the inverse, golden crosses, aren't necessarily good market-timing indicators, however, as they are well telegraphed, but they can help put a selloff in historical perspective, market technicians say.

The last time a death cross formed in gold was in June of 2018, according to FactSet data.

To be sure, many bullish investors still believe that gold's path forward is for further gains in 2021, as governments across the globe continue to print money to fund their virus-stricken economies, a felicitous environment for bullion.

Weakness in the U.S. dollar, which most commodities are priced in, also is expected to support a rise in the yellow metal, with the buck changing hands around its lowest level since the middle of 2018 on Tuesday, as measured by the ICE U.S. Dollar Index, according to FactSet data.

A weaker dollar is seen removing one impediment for investors buying bullion using weaker currencies.

-; 415-439-6400; AskNewswires@dowjones.com

(END) Dow Jones Newswires

December 01, 2020 12:44 ET (17:44 GMT)

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