We think that like the game of snakes and ladders, 2025 will see many ups and downs for the luxury sector,” Bank of America analysts said.

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Bank of America is set to award stock to most of its global employees for the eighth time since 2017, following a robust performance by the second-largest U.S. lender in 2024, according to an internal memo seen by Reuters on Friday.

Bank of America allocates $1B in restricted stock pool for workforce, aiming to retain talent, boost profitability, and contain expenses.

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Higher rates are dimming hopes for a recovery in the sluggish housing market. The central bank expects to be the first among major monetary authorities to unwind pandemic-era asset purchases. Consumers powered through concerns about high inflation and the U.S. job market for a 4% lift in holiday retail sales.

Indexes were slightly lower Thursday. Stocks dipped after posting the best day since November on Wednesday, fueled by bank earnings and tame CPI data.

Political challenges stand in the way of the president-elect pulling off what the hedge fund manager called “the biggest deal he’s ever done.”

Bank of America and Morgan Stanley earnings are out. Follow along for live updates on stocks, bonds and other markets, including the Dow Jones Industrial Average, S&P 500 and Nasdaq Composite.

US shares and bond prices held on to their inflation-inspired gains from the previous session on Thursday as traders digested data showing a small increase

Dior, LVMH, Kering and Hermes among the luxury goods companies to advance after Cartier owner Richemont posted strong quarterly earnings

Strong bank earnings failed to sustain a rally on Wall Street, but stocks in Europe and Asia pushed higher. European and Asian indices gained after Wednesday's Wall Street rally.