Benzinga | Oct 5, 2021 11:53AM EDT

Why Wells Fargo Shares Are Rising

Shares of companies in the broader financial services sector, including Wells Fargo & Co (NYSE:WFC), are trading higher amid overall market strength as stocks rebound following Monday's selloff.

Shares of banks and financial services companies also saw strength last week following a rise in the 10-year US treasury yield. The 10-year note is trading around 1.527%. The 10-year note has a 3-month high of 1.533% and a 3-month low of 1.168%.

Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. Wells Fargo has a 52-week high of $51.41 and a 52-week low of $20.76.