Stocks were set to open lower on Wednesdsay as earnings season gets into full gear, giving investors a picture at the coronavirus-induced damage.
, sending shares down 2.3% in premarket trading. The second largest bank by deposits in the U.S. said it earned 40 cents a share, down 45% as BAC set aside $3.6 billion for anticipated loan losses due to the coronavirus pandemic. Analysts had been looking for 46 cents a share. Revenue of $22.8 billion was roughly in line with estimates, while trading volume easily beat estimates.
Trump said he "will be speaking to all 50 governors very shortly" and "will then be authorizing each individual governor of each individual state to implement a reopening." His announcement came a day after the president claimed "total" authority over when to lift state-imposed coronavirus public health safety measures.
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