Large financial companies are still monopolizing the earnings news. Bank of America (NYSE:BAC), Wells Fargo (NYSE:WFC), Morgan Stanley (NYSE:MS), Citigroup (NYSE:C), and U.S. Bancorp (NYSE:USB) all beat earnings and revenue expectations. The Financial sector has benefitted from rising interest rates. Despite the 10-year Treasury Yield (TNX) trading slightly lower before the open, rates may continue to rise as the Fed moves closer to tapering.
