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Why Bank of America and Citigroup Are Trading Higher Today

·2 min read
Why Bank of America and Citigroup Are Trading Higher Today
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Shares of Bank of America (NYSE: BAC) and Citigroup (NYSE: C) were trading nearly 4% higher in the final hour of trading Thursday as the broader market rallied from what has been a difficult few weeks. Like a lot of the market, bank stocks got hit hard on the news about China Evergrande Group (OTC: EGRN.F), and on fears over what the property developer's situation could mean for the Chinese real estate market, which has gotten quite frothy. For that reason, bank stocks have struggled in recent days.