Wednesday, January 4, 2012

Morning roundup: Big banks to lead stock market rally?

Here's a look at this morning's banking and finance headlines:

  • Analysts say the six biggest U.S. banks, including Charlotte's Bank of America, could post an average profit increase of 57 percent this year, Bloomberg reports. Though last year, analysts predicted the lenders' profits would jump 32 percent in 2011 - and that proved significantly off base.

  • CNBC has high hopes for the overall market in 2012, saying most strategists agree that after last year's flat finish, there's nowhere to go but up.

  • Today, though, Euro-zone worries are back after a big rally Tuesday, driving stocks lower as they opened, Reuters reports.

  • A New York Times op-ed makes the case for bringing back "boring banks," saying banks should shed risky, complicated practices.

  • Some banks are trying to woo customers back, offering credit cards to more borrowers and discounts on closing costs for mortgage refinancing, The Motley Fool writes