Large banks traded up on Feb. 23, but not as much as the broader markets, as the 10-year Treasury yield fell to 2.873% after almost touching 3% two days ago.
The Dow Jones Industrial Average added 1.39% to 25,309.99, the S&P 500 gained 1.60% to 2,747.30 and the Nasdaq Composite Index rose 1.77% to 7,337.39.
Most of the four largest banks in the country underperformed the broader market gains. Citigroup Inc. added 1.06% to $77.08, Bank of America Corp. rose 1.07% to $32.03 and Wells Fargo & Co. increased 0.61% to $59.17. JPMorgan Chase & Co. added 2.03% to $117.31, ahead of next week's investor day.
The large regional banks appeared to do better in trading. U.S. Bancorp increased 2.25% to $55.49, PNC Financial Services Group Inc. added 1.58% to $160.09, and Capital One Financial Corp. gained 2.45% to $99.04.
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