Wells Fargo has overtaken JP Morgan to become the largest U.S. bank by stock-market value, Bloomberg notes.
Wells Fargo’s market cap increased to $157.6 billion at the close of today's trading.
JPMorgan's value is $156.4 billion.
For the year, Wells Fargo is up 11%, while JP Morgan has lost 4%.
The reason investors are excited about Wells Fargo? Its acquisition of Wachovia in the depths of the financial crisis is paying off.
Chris Damas submits: It has been a great one-week run for the stock of fertilizer producer CF Industries Holdings (CF). The company is trading at $155.91, up almost $6 after hitting a high of $156.34, and smashing the 2011 high of $... Read Post
Gold: Trading now at $1,446 per ounce, up 0.6% from Wednesday. Dow Jones industrial average: Trading now at 12,156.82, up 0.6% from Wednesday. Back where we were. The markets have now made up the value they lost after the earthquake... Read Post