3 things investors need to know from last week!

Bank of America's profits jump 19% on strong Wall Street showing:?Bank of America (BAC) churned out more profits and revenue in the second quarter after a surprisingly strong showing from its Wall Street unit and a solid performance from its consumer businesses.?Net income was up 19% compared to the year-earlier period, to $7.4 billion. Revenue rose 11%, to $25.2 billion.?

The results from the nation's second-largest bank are the latest demonstration of how high-interest rates and the surprising strength of the US consumer continue to help some of the largest US lenders even as regional banks struggle.

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Source: Yahoo Finance

?Yellen Sees Disinflation Pressures at Work as Hiring Surge Fades:?Treasury Secretary?Janet Yellen?said a cooling — but not faltering — labor market is playing a key role in helping to slow US?inflation, among a raft of factors imposing disinflationary pressures.?Yellen also told Bloomberg in an interview on Monday that the United States was making good progress in bringing inflation down and she did not expect the U.S. economy to enter a recession.

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Source: Bloomberg

?U.S. Companies Score Partial Reprieve From Global Minimum Tax Deal:?Treasury Secretary Janet Yellen hailed the 2021 tax deal as an achievement?in international cooperation. U.S.-based companies won relief from two pieces of the global minimum tax deal, and the changes will delay or reduce the taxes that they are set to pay to foreign countries.?

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Source: Yahoo Finance

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