New Forecasts from Bank of America for the US Economy

In its latest report, Bank of America raised its forecast for US growth

 in the third quarter due to new signs of current strength in consumer spending.

The forecast was raised from 1.0% to 1.5%.

The bank also stated that it is optimistic about

 the US economy despite ongoing risks.

It sees signs of a recovery in the consumer market.

The bank also stated that the labor market remains a major risk to the outlook.

Regarding interest rates, the bank stated that

 "long-term interest rates could rise if the Federal Reserve cuts interest rates."

Bank of America Shares

As for Bank of America shares, they are trading near $50.60,

after breaking through previous resistance levels near $49.38.

The stock is expected to continue its upward trend for the time being.

It is recommended to consider buying any correction near the $47 level.