Check the background of this firm on FINRA's BrokerCheck.

Leigh Baldwin & Co.

112 Albany Street, Cazenovia, NY 13035 | Phone: (315) 655-2964 Toll Free: 1-800-659-8044

Check the background of this firm on FINRA's BrokerCheck.

Diamonds and Dogs

7/16/18

Bank of America (BAC) shines today. The second-largest U.S. lender is up 3% after beating earnings estimates and hiking their dividend 25%. Bank of America was able to cut expenses while also growing loans and deposits on the back of a strengthening economy. Noninterest expense dropped 5 percent in the quarter from a year earlier as the bank trimmed headcount and worked on digitizing its retail operations to lower overhead.Bank of America will buy back $20 billion worth of stock in the next year. Impressive.

Oil taking a hit. Brent crude oil is down 4.5% and down 10% from its recent peak hit in May fitting the criteria of a correction. Monday's slump for crude comes amid growing demand concerns. Indeed, International Monetary Fund data show a slowdown in global economic growth, which could drive down appetite for the commodity. Moreover, reports have suggested that President Donald Trump is considering a release from the U.S. Strategic Petroleum Reserve, though a draw down from the stockpile of crude is not imminent.

Diamonds and Dogs market commentary is a journal of daily observations on anything that happens to be of interest to our author. Obviously, our primary focus is the stock market and world economic events, but for this page we have no defined topics. We want this page to be dedicated to the interests, concerns, and possibly to the financial gain of our clients and friends. All comments contained herein are for informational purposes only, and should not be considered as a solicitation to buy or sell any security. The firm does not guarantee the accuracy or completeness of the information or make any warranties regarding results from it's usage.