Bank of America's first-quarter profit rises on trading strength

Market volatility fueled by uncertainty around U.S. President Donald Trump's tariff decision helped BofA rake in 9% higher trading revenue, helped by a 17% jump in equities trading. Rivals JPMorgan Chase and Goldman Sachs have also reported stronger performance from their trading businesses. Rate cuts by the Federal Reserve last year had helped improve sentiment among borrowers, benefiting banks such as BofA, which had forecast record net interest income in 2025 before Trump unveiled the new tariffs.