Here's Why Wells Fargo, JPMorgan Chase, and Other Big Banks Are Soaring on Wednesday

Here's Why Wells Fargo, JPMorgan Chase, and Other Big Banks Are Soaring on Wednesday

One of the day's standouts is the financial sector. The Financial Select Sector ETF (NYSEMKT: XLF) was higher by 3.4% on the day, and the big banks are leading the charge. Wells Fargo (NYSE: WFC), JPMorgan Chase (NYSE: JPM), and Citigroup (NYSE: C) were all up by approximately 5%.