Why Bank Of America Shares Are Rising

Shares of companies in the broader financial services sector, including Bank of America Corp BAC, are trading higher amid overall market strength as stocks rebound following Monday's selloff.

Shares of banks and financial services companies also saw strength last week following a rise in the 10-year US treasury yield. The 10-year note is trading around 1.527%. The 10-year note has a 3-month high of 1.533% and a 3-month low of 1.168%.

Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets.

Bank of America has a 52-week high of $44.75 and a 52-week low of $23.12.