List of Companies Affected by Fed's Recommendation

On Wednesday, the Federal Reserve recommended that the cap on debit card-swipe fees be increased to $0.21. Following the news, shares of Visa V and Mastercard MA spiked higher; both rallied over 9% before being halted temporarily. Yet, other companies saw a rally as well: Bank of America BAC, Wells Fargo WFC, Capital One COF, JP Morgan Chase JPM, and Discover Financial Services DFS rallied in the wake of the news. Are traders buying in too aggressively? Or is there still enough momentum to move higher?