Boston, MA 09\/23\/2013 (wallstreetpr) – Brian T Moynihan, the Chief Executive Officer of\u00a0Bank of America Corp (NYSE:BAC) said that consumers were now spending 5-6% more this month than what was being spent in 2012 in the same month, despite the fact that there was a marked slowdown in the economy.<\/p>\n
\u00a0He said that the route to reach the 3% economic growth-rate is a lengthy one but that there is not too much of a downside risk. The 53-yesr old Moynihan made these remarks in an appearance with Warren Buffet, the billionaire. The latter who is Berkshire Hathaway\u2019s Chairman stated that the economy is just creeping along.<\/p>\n
\u00a0The big investor <\/b><\/p>\n
\u00a0By assets,\u00a0Bank of America Corp (NYSE:BAC) is the 2nd<\/sup> largest bank in the United States. In 2011, Berkshire which was headed by Buffet, had invested $5B in Bank of America Corp (NYSE:BAC) after its stock plunged more than 45% in the midst of increasing losses that stemmed from home-mortgages. Berkshire is the owner of numerous consumer and industrial companies that have brands such as Dairy Queen Ice Cream and Geico Insurance.<\/p>\n Friday\u2019s trading<\/b><\/p>\n In Friday\u2019s trading, Bank of America Corp (NYSE:BAC) stock dipped by 1.16%. The opening price of the shares was $14.65 which touched an intraday high of $14.66 and then dipped to close at $14.44. Approximately 144.79 million shares were traded on Friday. An average of 98.88 million shares was traded over a period of 30 days. The 52-week low of the shares is $8.70 and the 52-week high is $15.03. The company has a market cap of $155.13 million.<\/p>\n \u00a0About the company<\/b><\/p>\n Bank of America Corp (NYSE:BAC) is a bank-holding company. It is also a financial-holding company. This financial institution serves individual consumers, SMB\u2019s governments and corporations with a variety of investing, banking, asset-management and numerous other risk and financial management services and products.<\/p>\n","protected":false},"excerpt":{"rendered":" Boston, MA 09\/23\/2013 (wallstreetpr) – Brian T Moynihan, the Chief Executive Officer of\u00a0Bank of America Corp (NYSE:BAC) said that consumers were now spending 5-6% more […]<\/p>\n","protected":false},"author":2,"featured_media":9054,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"twitter_2902945987_2902945987":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[1942],"tags":[1654,1010],"stock_ticker":[],"class_list":["post-9053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banking","tag-bank-of-america-corp-nysebac","tag-nysebac","entry"],"acf":[],"yoast_head":"\n