Why Wells Fargo Shares Are Rising

Shares of several companies in the broader financial sector, including Wells Fargo & Co WFC, are trading higher amid an increase in US Treasury yields.

The 10-year Treasury yield hit an intraday high of 1.686% Tuesday morning before dipping to around the 1.663% level. Overall market volatility is otherwise persistent during Tuesday's session as investors continue to weigh omicron concerns.

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Wells Fargo is one of the largest banks in the United States, with approximately $1.9 trillion in balance sheet assets. The company is split into four primary segments: consumer banking, commercial banking, corporate and investment banking and wealth and investment management. It is almost entirely focused on the U.S.

Wells Fargo has a 52-week high of $53.14 and a 52-week low of $29.40.