Bank of America: It's All You Need to Know

Updated from 11:18 a.m. EDT

Now that Bank of America (BAC Quote) shares have climbed far from the depths of single digits and sustained that meaningful rally, some investors are looking at the firm as a benchmark not just of banking, but of the health of the U.S. economy.

Not a few investors have become more bullish on the country's prospects. Positive signals from economic data and the banking industry have outshined the clatter from cynics and naysayers. Those who are betting on a near-term economic resurgence are betting on BofA.

"A lot of traders are starting to identify BAC as a bellwether stock," says Lee Munson, chief investment officer of Portfolio Asset Management. ...