Bank of America says there are two things that will drive the next bull run in stocks

Artificial intelligence's influence on increased productivity and a strong consumer could underpin the next bull run on Wall Street, according to Bank of America. Savita Subramanian, head of U.S. equity and quantitative strategy, said Wednesday that AI advancements will streamline worker productivity and drive future growth for stocks outside of "The Magnificent Seven" that markets have yet to fully capture.

Group members Nvidia and iPhone maker Apple have surged more than 200% and more than 40%, respectively. Subramanian also highlighted resilient consumer spending as another bull case for Wall Street, noting the U.S. in particular is better suited in this sector compared to other regions due to fixed mortgage rates locked in before the Federal Reserve ended its quantitative easing cycle.

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Bank of America Corp. stock falls Monday, underperforms marketSupported by world-class markets data from Dow Jones and FactSet, and partnering with Automated Insights, MarketWatch Automation brings you the latest, most pertinent content at record speed and with unparalleled accuracy.
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Bank of America upgraded to market perform at KBW because ‘the fever broke’ around bond yieldsKBW’s David Konrad sees valuation boost for the bank as Treasury yields drop well below 5%.
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