Why Shares of Wells Fargo Are Up Today
Shares of Wells Fargo (NYSE: WFC) traded nearly 4% higher in the final hour of trading Thursday for no obvious reason, although there could be a few things driving the move.
In general, bank stocks are rallying today, as the KBW NASDAQ Bank Index, which tracks the largest banks in the U.S., traded about 3.6% higher today as well. The market has been volatile with all of the inflation and omicron news, so today happens to be a day where the market is swinging in the right direction. But Wells Fargo was outperforming other large bank competitors like JPMorgan Chase, Bank of America, and Citigroup.
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Source Fool.com
