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Which Bank Stock is a Better Buy? -Breaking

by Mike Robinson

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© Reuters. JPMorgan vs. Bank of America – Which Bank Stock Is a Better Investment?

The 2022 interest rate rise is good news for bank stocks. With that in mind, today I’ll analyze and compare JPMorgan Chase & Co. (NYSE:) and Bank of America Corporation (NYSE:) to determine which stock is currently a better buy.Jerome Powell, Federal Reserve Chief, said on Tuesday that the Fed could react more quickly to its low-interest-rate policies to combat high inflation. U.S. Consumer Price Index (CPI), was 6.2% at October 2021. This is the highest reading in nearly three decades. The U.S. Central Bank could also accelerate bond tapering and raise its key rates as soon as 2022’s first half. An increase in the Fed rate will boost interest revenue for financial firms.

The global financial services industry, which is represented by the Financial Select Sector SPDR ETF (NYSE:), has advanced about 31.1% since the beginning of the year, outperforming the SPDR S&P 500 Trust ETF (SPY), which has gained 22.3% over the same period.

With this in mind, let’s analyze and compare two bank stocks: JPMorgan Chase & Co. (JPM) and Bank of America Corporation (BAC), to determine which is a better investment right now.

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