Wells Fargo, Goldman Sachs, and Citigroup Are All Soaring. Here's Why.

The stock market was having a strong day on Wednesday, with the S&P 500 (SNPINDEX: ^GSPC) and Nasdaq Composite (NASDAQINDEX: ^IXIC) higher by 1.6% and 1.9% as of 10 a.m. ET. But the big bank stocks are leading the way, with several major U.S. financial institutions spiking higher. In fact, Wells Fargo (NYSE: WFC), Goldman Sachs (NYSE: GS), and Citigroup (NYSE: C) were all higher by 5% or more for the day.There are two main reasons why these bank stocks are soaring. First, bank stocks kicked off fourth-quarter 2024's earnings season on Wednesday, and the reports look impressive across the board, especially when it comes to these three companies.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool