SCHW - Why Shares of Western Alliance KeyCorp and Charles Schwab Rose Today
2023-05-15 16:54:00 ET
Shares of several bank stocks rose today after selling off last week, largely due to positive sentiment from Wall Street. Shares of Western Alliance Bancorp (NYSE: WAL) rose nearly 12% today, shares of KeyCorp (NYSE: KEY) rose more than 6.5%, and shares of Charles Schwab (NYSE: SCHW) ended the day up more than 4%.
Bank stocks got hit extremely hard last week but there wasn't a lot of new information that came to light. Investors sold $2.1 billion worth of financial stocks in the week ending May 10, according to the data and research firm EPFR. That's the most selling the sector has seen in roughly a year.
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Why Shares of Western Alliance, KeyCorp, and Charles Schwab Rose Today