investment services, saw its shares close at $53.96, a decline of 1.14%. Investors are currently looking ahead to Wednesday’s earnings report, following the news of a $1.2 billion penalty from the U.S. Treasury Department released after the market closed on Tuesday. Trading volume reached 43.3 million shares, approximately 28% higher than the three-month average of 33.8 million.How the markets moved today
The S&P 500 (SNPINDEX:^GSPC) finished at 7,805, down 0.02%, while the Nasdaq Composite (NASDAQINDEX:^IXIC) ended the day at 27,204, a decrease of 0.15%. Among its peers in the diversified financial services and money center banking sectors, JPMorgan Chase (NYSE:JPM) closed at $331.43, down 0.86%, and Wells Fargo (NYSE:WFC) fell 3.08% to $80.75 as the big-bank <a s share price of approximately $54.
That said, the costs associated with maintaining compliance to prevent such issues will likely continue to climb. Bank of America cannot afford to reduce this spending, as doing so could invite stricter regulatory oversight that might further pressure profitability.
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