Bank of America's earnings beats estimates, but mostly by cost-cutting
The bank cut around 18,300 jobs in a year
Investment banking & wealth management were better then its consumer business
What does this say about consumer spending, unemployment rate & the economy?
Not to mention worsening economic reports keep on coming
There should be more concerns & uncertainty over the economy
Nonetheless, Bank of America should still stay around 14.0 because of its earnings
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