Benzinga | Aug 6, 2021 01:45PM EDT

Why Wells Fargo's And Bank Of America's Stocks Are Soaring Higher Today

Shares of several banks and financial services companies, including Wells Fargo & Co (NYSE:WFC) and Bank of America Corp (NYSE:BAC), are trading higher during Friday's session amid an increase in yield rates along with a stronger-than-expected jobs report. The U.S. 10 year treasury note can be had at 1.29% Friday afternoon.

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

Wells Fargo is trading higher by 3.8% at $48.77.

Wells Fargo reached a 52-week high of $48.99 Friday morning. The stock has a 52-week low $20.76.

See also: How to Buy Wells Fargo Stock

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 is trading higher by 3.2% at $40.27.

Bank of America has a 52-week high of $43.49 and a 52-week low of $22.95.