Bank of America Corp (NYSE:BAC) was surging more than 7% off the open on Thursday, in tandem with the general markets, which saw the S&P 500 trading about 2.6% higher.
The Labor Department reported an 8.2% year-over-year increase in the consumer price index for September, which caused many stocks to gap down Thursday. However, bullish volume came into the S&P 500 intraday, causing the market to spike higher, in a contrarian reaction.
