Why JPMorgan and Bank of America Popped Today
The following video is part of our "Motley Fool Conversations" series, in which senior analyst Anand Chokkavelu, CFA discusses topics across the investing world.
Banking finally got some good news today, even if it's not a game changer. Strong existing home sales for April helped boost bank shares, led by those of the bank of the hour, JPMorgan Chase. But all of the largest banks -- Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley -- saw a bump. Anand gives the rundown.
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At the time this article was published Anand Chokkavelu, CFAowns shares of Bank of America, JPMorgan Chase, Citigroup, Wells Fargo, and Citigroup, and also has long-dated options on Bank of America. The Motley Fool owns shares of Bank of America, Citigroup, JPMorgan Chase, and Wells Fargo, and has the following options: short APR 2012 $21.00 puts on Wells Fargo, short APR 2012 $29.00 calls on Wells Fargo, short OCT 2012 $33.00 puts on Wells Fargo, and short OCT 2012 $36.00 calls on Wells Fargo.Motley Fool newsletter services recommendGoldman Sachs and Wells Fargo. Try any of our Foolish newsletter servicesfree for 30 days. We Fools may not all hold the same opinions, but we all believe thatconsidering a diverse range of insightsmakes us better investors. The Motley Fool has adisclosure policy.