BAC is trading at $48.65 (+3.01%) after announcing a major new credit card partnership with Royal Caribbean Group and as financial stocks climb amid a broad market recovery.
- Bank of America and Royal Caribbean Group (RCL) will launch the industry's first tri-branded credit cards for the Royal Caribbean, Celebrity Cruises, and Silversea brands [19].
- The stock is also benefiting from improved investor sentiment following signals of potential de-escalation in U.S.-Iran tensions and Fed Chair Powell's comments on Monday downplaying the need for rate hikes in response to energy shocks [7, 12].