Bank of America CEO says US consumers are keeping the economy afloat

The CEO of one of the nation's largest banks is preparing for an economic downturn in 2023. But he's also hopeful that the likely recession will be brief and "mild."

News: What you need to know about the markets     Bank of America CEO says US consumers are keeping the economy afloat The CEO of one of the nation's largest banks is preparing for an economic downturn in 2023. But he's also hopeful that the likely recession will be brief and "mild." Read more »   Kroger and Albertsons want to create a grocery empire. The last supermarket mega-merger backfired When Christine Martinez found out last month that Kroger and Albertsons planned to merge in a deal worth nearly $25 billion, she thought, "here we go again." Read more »   What the heck happened to Salesforce? Tech stocks have taken a nasty tumble this year, but some are doing even worse than others. Exhibit A: software giant Salesforce. Read more »   McDonald's is giving people the chance to win free food for life For the holidays, McDonald's is giving away one free meals for life. Well, sort of. Read more »   Rail strike threat recedes as Congress prepares to impose unpopular contract on unions The threat of a freight railroad strike that had been building in recent weeks receded quickly after President Joe Biden and Democratic leaders in Congress agreed late Monday to support legislation that would block a walk-out by more than 100,000 union members set for the end of next week. Read more »   What protests in China may mean for the economy Protests against China's prolonged and restrictive Covid regulations spread across the country over the weekend. The demonstrations against Chinese President Xi Jinping and his costly zero-Covid policy are an exceedingly rare case of widespread civil disobedience. Read more »

Dow Nasdaq S&P +3.07   -65.72   -6.31 33,852.53   10,983.78   3,957.63 +0.01%   -0.59%   -0.16% YTD -6.84%   YTD -29.79%   YTD -16.96%

Biggest Winners Celanese Corp +4.74%   Carnival Corp +4.61%   Ralph Lauren Corp +4.36%   Norwegian Cruise Line Holdings Ltd +4.15% Biggest Losers Broadridge Financial Solutions Inc -2.51%   MSCI Inc -1.94%   Mettler-Toledo International Inc -1.92%   Hormel Foods Corp -1.87%

Hottest ETF NYSE Market Volume

Key Market Stats Latest Today's Change Oil $78.93 +1.69 / +2.19% Gold $1,748.60 +8.30 / +0.48% 10-yr 3.75% +0.04 Euro $1.03 -0.00 / -0.11%

More Markets Now   Watch the live digital show, now every Wednesday 12 p.m. to 12:15 p.m. ET.

Hi, let us know what you think of this newsletter!   Tell us what you want to read more of... and less of. Email your tips and feedback to MarketsNow@cnn.com

Sign up for Reliable Sources newsletter   Sign up for Before the Bell newsletter

Tips, thoughts or questions are always welcome at MarketsNow@cnn.com   Want to change how you receive these emails? You can unsubscribe from this list   ® © 2022 Cable News Network Inc. A WarnerMedia Company. All Rights Reserved. You are receiving this message because you subscribed to CNN Business's "Markets Now" newsletter. Our Mailing address is: Cable News Network, Inc. 1 CNN Center Atlanta, GA 30303