67.90 % of retail investors lose their capital when trading CFDs with this provider.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.90 % of retail investors lose their capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Results of Bank of America and Goldman Sachs

The earnings season has already started in the United States and, as usual, the banking sector is the first to report. Two banks, Bank of America and Goldman Sachs, reported before the US stock exchange today. It is the banking sector that is often a mirror of economic prosperity, and their results may indicate how well the sector, which is under the weight of extremely low-interest rates, is doing.

In both cases, banks’ results exceeded analysts’ expectations. However, Bank of America's profit fell by 28% and sales by 10% in 4Q, in response to a 1.3% decline in the company's shares. Commenting on the results, CEO Brian Moynihan told investors: "In the fourth quarter, we saw signs of recovery supported by increased consumer spending, stabilization of loan demand from our commercial customers, and strong investment activity." The bank plans to resume $ 2.9 billion share repurchases in the first quarter, plus another $ 300 million. The dividend remains at 18 cents per share.

Goldman Sachs outperformed its earnings per share in 4Q to $ 12.08, compared to the expected $ 7.47. Sales grew 11.74 billion, while analysts expected growth of $ 1.75 billion. The bank was able to realize huge profits thanks to securities trading. "We have been able to help clients navigate difficult environments and have achieved strong results by pursuing our strategic priorities," said David Solomon, CEO. The Goldman Sachs model based on investment banking may prove to be an advantage this year as well, as the bank was not forced to set aside billions of dollars to cover bad loans.

67.90 % of retail investors lose their capital when trading CFDs with this provider.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 67.90 % of retail investors lose their capital when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.