Banking stocks led the market higher today after Wells Fargo’s earnings report surpassed expectations.  The KBW Banking Index soared 20.11% and the KBW Regional Banking Index rose 12.07%. The broader S&P 500 Index was up 3.81%.

The Bank Index was led by Fifth Third Bancorp, Bank of America, and Wells Fargo, which were up 35.61%, 35.27%, and 31.70%, respectively. Leading the Regional Banking Index were Sterling Financial Corporation, UCBH Holdings, and Wintrust Financial Corporation, which were up 40.27%, 39.74%, and 23.75%, respectively.