Here's Why Wells Fargo, Bank of America, and Other Big Bank Stocks Are Higher on Tuesday
The stock market opened sharply higher on Tuesday following the long Memorial Day weekend. As of 10:45 a.m. EDT, the Dow Jones Industrial Average was higher by 2.5%, while the benchmark S&P 500 index was up by 1.9% and traded above the key 3,000 level for the first time since early March.
Bank stocks were some of the strongest performers. Citigroup (NYSE: C) and Wells Fargo (NYSE: WFC) were leading the big U.S. banks, higher by 8.2% and 6.3%, respectively. Bank of America (NYSE: BAC) and JPMorgan Chase (NYSE: JPM) were both higher by more than 5%. And investment banking giants Goldman Sachs (NYSE: GS) and Morgan Stanley (NYSE: MS) were both up by more than 6%.
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Source Fool.com
