Wells Fargo says it expects record earnings in Q1 of approximately 3 bln. It’s stock is soaring and the broader stock market is rising as well. EUR/JPY is jumping along with the banking sector. Pound generally does well on good banking news, it should be noted. S&P futures have jumped more than 1% on the news.
Just crossing the tape, WalMart sales were much weaker than expected in March, so the rally could be pared. Sales were up 1.4% versus 3.2% expected.
