Bank of America Sees Positive Outlook

Investing.com — Bank of America inched higher on Wednesday after Chief Executive Brian Moynihan forecast better-than-expected net interest income and highlighted the bank's deals pipeline.

Bank of America Corp (NYSE:BAC) saw a slight increase following the news.

Net interest income is anticipated to be around $14.3 billion in Q4, exceeding analyst expectations of $13.95 billion.

Moynihan also mentioned that trading revenue is forecasted to rise by high to mid-single digits, potentially setting a record for Q4. The bank's deal pipeline is described by the CEO as "high" and "ready to go". Furthermore, he noted that investment banking fees likely grew 25% in Q4.