Why Shares of Bank of America, Citigroup, and Wells Fargo Are Rising on the Eve of Earnings
Shares of several major Wall Street banks moved higher today after the market staged a stunning reversal following a hotter-than-expected inflation report.
The Dow Jones Industrial Average fell more than 500 points this morning, only to erase the deficit and then add more than 800 points, as of this writing.
Shares of Bank of America (NYSE: BAC) traded roughly 5.7% higher as of 2:15 p.m. ET today, while shares of Citigroup (NYSE: C) traded 5.2% higher, and shares of Wells Fargo (NYSE: WFC) were up nearly 5% as well.
Source Fool.com