BANK OF AMERICA’S PROFITS SPIKE IN SECOND QUARTER

Bank of America shares rose Monday after the nation’s second-largest lender reported that second-quarter profits jumped 33 percent from last year, driven by the federal tax overhaul and rising interest rates. The stock closed Monday at $29.78, up 4.31 percent. For the April-to-June period, the banking giant reported earnings of $6.78 billion, up from $4.75 billion in the same period a year earlier.