Wall Street Shifts From Turkey Tumult to Bank of America Earnings

U.S. stocks shrugged off the chaotic coup attempt in Turkey over the weekend, instead focusing on the financials sector. Bank of America (BAC) - Get Report reported better than expected second quarter earnings Monday. Profit of $0.36 a share topped estimates of $0.33. Revenue fell 7.1 percent year-over-year to $20.4 billion, in line with estimates. 'Bank of America is perhaps the most sensitive to low interest rates,' said Michael Ingram, a market analyst with BGC Partners, based in London, adding that the revenue line for the banking sector is under intense pressure amid a slower pace of Federal Reserve rate hikes. TheStreet's Scott Gamm reports from Wall Street.