Why Bank Stocks Like Bank of America Shot Higher Today
It seems the U.S. banking system won't collapse after all...at least for now. An unexpectedly bullish update from a regional lender many thought was at risk of collapsing bolstered bank stocks on Wednesday. Quite a few saw notable, market-beating gains, including Bank of America (NYSE: BAC), which closed the day 4.4% higher, and JPMorgan Chase (NYSE: JPM) with a 3% gain.