Why Bank Of America Shares Are Rising

Shares of several banks and financial services companies, including Bank of America Corp BAC, are trading higher as stocks rebound following Monday's weakness. US President Biden is expected to announce measures to address the COVID-19 omicron variant, which has driven market volatility in recent weeks.

Bank of America shares were trading lower on Monday amid overall market weakness as growing COVID concerns and omicron variant uncertainty weigh on market sentiment. An announcement from Senator Joe Manchin indicating he would not support Biden's Build Back Better plan has also pressured US economic sentiment.

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Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking and global markets.

Bank of America has a 52-week high of $48.69 and a 52-week low of $28.73.