What's Going On With Wells Fargo (WFC) Shares

Wells Fargo & Co WFC shares are trading higher by 1.12% to $43.23 during Wednesday's session. The stock is trading higher amid overall market strength following a lighter-than-expected June inflation report.

Traders and investors are also watching for the company's second-quarter earnings report, confirmed for Friday before the market open. According to analyst consensus estimates, WFC is expected to report revenue of $20.08 billion on EPS of $1.17.

What Happened?

U.S. CPI inflation in June decelerated more than anticipated, reinforcing investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle. The Bureau of Labor Statistics' data reveals a drop in the annual inflation rate from 4% in May to 3% in June, slightly below the average economist forecast of 3.1%.

This marks the twelfth consecutive month of declining inflation and the lowest reading since March 2021...Read More

According to data from Benzinga Pro, WFC has a 52-week high of $48.84 and a 52-week low of $35.25.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: Newswhy it's moving
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!