The beginning of the year for Bank of America Corp. was definitely a good one as the bank managed to post much larger than expected profits, mainly on the benefits brought on by the purchase of Merrill Lynch which happened when the financial crisis was at its peak.

Houston investment firm Finger Interests Ltd., which is being operated by Jerry Finger and his son Jon Finger, is forbidding their fellow shareholders to vote for the re-election of Chad Gifford to Bank of America's board. Gifford had failed to protect shareholders by approving the bank's purchase of Merrill Lynch.

A BofA Merrill Lynch Global Research report depicted that the risk appetite re-emerged as concern eased that interest rates will have to increase later this year, aiming to tranquilize unceasingly rising inflation rates, triggering investors to reduce cash holdings and acquire equities.