Wells Fargo's stock bounces sharply to snap long losing streak
Wells Fargo & Co.'s stock bounced sharply off early lows Thursday, with a late push higher saving it from suffering its longest losing streak in more than 8 1/2-years. The stock turned higher in the last half hour of the regular session, closing up 0.1%, after being down as much as 1.8% early in the session. A lower close would have extended the stock's losing streak to eight sessions, which would have been the longest such stretch since the eight-session streak ending Oct. 19, 2007. The ended the loss streak at seven sessions, which was the longest since Jan. 8, 2016. Separately, the SPDR Financial Select Sector ETF closed up 0.3%, after being down 1.4% at its intraday low.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.