Financial institution of America Inventory Rams Into Resistance on Earnings; This is the Commerce

On Friday, financial institution shares kicked off the third-quarter-earnings season. On Oct. 17 Financial institution of America  (BAC)  weighed in, reporting quarterly outcomes forward of the open.

Financial institution of America shares are roughly 5% greater finally examine after the financial-services large reported an earnings and income beat for its third quarter.

The inventory is on one thing of a tear. The shares rallied greater than 6% on Thursday and had been flat on Friday, as a number of different financial institution shares reported sturdy quarterly outcomes (and traded fairly properly regardless of the marketwide selloff).