Benzinga | Sep 23, 2021 11:19AM EDT

Why Wells Fargo And Bank Of America Shares Are Rising

Shares of banks and financial services companies, including Wells Fargo & Co (NYSE:WFC) and Bank of America Corp (NYSE:BAC), are trading higher amid a rise in the 10-year treasury yield.

Stocks across sectors have gained for the session as investors weigh Wednesday's Fed decision. Stocks also continue to rebound following Monday's selloff, which was driven by volatility in Chinese markets.

Wells Fargo is one of the largest banks in the United States. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking and wealth and investment management.

Wells Fargo has a 52-week high of $51.41 and a 52-week low of $20.76.

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