Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Randy Elias

Why Wells Fargo And Bank Of America Shares Are Rising Today

Shares of banks and financial services companies, including Wells Fargo & Company (NYSE:WFC) and Bank of America Corporation (NYSE:BAC), are trading higher amid a rise in yields.

The recent Fed remarks indicating the Fed sees inflation as too high and will work to curb further inflation has also lifted the rate hike outlook.

The 10-year Treasury yield hit an intraday high of 2.375% Tuesday morning.

Wells Fargo provides banking, investment, mortgage, and consumer and commercial finance products and services in the United States and internationally.

Wells Fargo shares were trading about 5.6% higher at $54 per share on Tuesday at the time of publication.

Bank of America provides banking and financial products and services for individual consumers, small and middle-market businesses, institutional investors, large corporations, and governments worldwide.

Bank of America shares were trading about 4.1% higher at $44.60 per share.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
One subscription that gives you access to news from hundreds of sites
Already a member? Sign in here
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.