Wells Fargo leads gains by big banks amid optimism for debt-ceiling deal

Wells Fargo & Co.’s stock
WFC,
+5.39%
is rallying 5.3% as the biggest gainer among the U.S.’s six largest banks amid optimism in the broad equities market about a debt-ceiling agreement in Congress. It’s on pace for largest percent increase since July 15, 2022, when it rose 6.17%, according to Dow Jones data. Meanwhile, Bank of America Corp.
BAC,
+4.42%
is up 4.3%, JPMorgan Chase & Co.
JPM,
+3.07%
is rising by 2.9%, Citigroup Inc.
C,
+3.98%
is moving up by 3.5%, Morgan Stanley
MS,
+2.50%
is ahead by 2.1% and Goldman Sachs Group Inc.
GS,
+2.92%
is up by 2.5%. For its part, Wells Fargo is trading above $40 a share for the first time in about three weeks. The stock is at $40.45 in recent trades. On April 25, the company’s stock closed at $40.55. Regional-bank stocks also rose, with the KBW Nasdaq Bank Index
BKX,
+5.09%
is up by 4.8%.