Bank of America’s Profits Decline by 3% in Q3: Bank of America’s profits declined in the third quarter
of the year due to a decrease in net interest income during the same period.
This is despite growing competition among lenders aiming to retain their clients by offering higher returns on deposits.

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Bank of America’s Profits Decline by 3% in Q3

Bank of America’s profits declined in the third quarter of the year due

to a decrease in net interest income during the same period.
This is despite growing competition among lenders aiming to retain their clients by offering higher returns on deposits.

The bank’s financial report, released on Tuesday,
indicated that net interest income—a profitability indicator—fell by 3% to $14 billion in the third quarter.
Additionally, according to Reuters, the bank’s provisions for credit losses rose

to $1.5 billion compared to $1.2 billion in the same quarter last year.

Despite an 18% year-over-year increase in fees from investment banking transactions, reaching $1.4 billion,

the net income for the bank—America’s second-largest—dropped to $6.9 billion
or 81 cents per share, compared to $7.8 billion or 90 cents per share in Q3 2023.

Trump Media Stock Continues to Surge

The “Trump Media” stock owned by former U.S. President Donald Trump
saw a significant increase during Tuesday’s trading session, continuing its substantial gains from last week.
The stock rose over 12% during the session before paring gains to close at 4.90%, trading at $31.45.

This rise follows an 18% gain on Monday and a 53% increase last week.
Notably, the stock price doubled in September,

jumping from around $12 per share less than a month ago to its current level.

The surge is attributed to growing expectations of Donald Trump’s
victory in the upcoming November presidential elections.
Betting markets such as “PredictIt” and “Polymarket” have shown Trump
leading over his Democratic rival, Kamala Harris, earlier this month, boosting investor confidence.

Boeing Signs $10 Billion Credit Agreement Amid Strike Pressures and Debt Maturities

Boeing has signed a $10 billion credit agreement with a group of banks
to secure additional funding amid its financial challenges.
This move is a strategic step for the company to ensure the necessary liquidity,
particularly with $11.5 billion in debt maturing in February 2026.

Reports suggest that Boeing aims to diversify its funding sources to maintain
its investment-grade credit rating amid growing concerns about a potential downgrade.
Additionally, the company faces financial pressure due to a strike involving approximately 33,000 workers,
which has disrupted the production of its 737 MAX aircraft, costing the company over $1 billion per month.

Bank of America’s Profits Decline by 3% in Q3

Bank of America&#8217;s Profits Decline by 3% in Q3

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Bank of America’s Profits Decline by 3% in Q3