Dow Ends Day Up 112
S&P 500, Nasdaq also close higher
By Newser Editors and Wire Services
Posted Oct 5, 2016 3:04 PM CDT
Specialist Jason Hardzewicz, left, works at his post on the floor of the New York Stock Exchange, Wednesday, Oct. 5, 2016.   (AP Photo/Richard Drew)

(Newser) – Banks and energy companies led stocks to close higher on Wall Street, the AP reports. Banks benefited from an increase in bond yields, which will allow them to raise interest rates on loans. Bank of America rose 2% Tuesday. Higher prices for crude oil and natural gas helped send energy companies higher. Chesapeake Energy jumped 6.8%. Real estate and phone companies fell as the rise in bond yields made those sectors less appealing to investor seeking income. The Dow Jones industrial average rose 112 points, or 0.6%, to 18,281. The Standard & Poor's 500 index gained 9 points, or 0.4%, to 2,159. The Nasdaq composite climbed 26 points, or 0.5%, to 5,316.

 

My Take on This Story
Show results without voting  |  
0%
0%
50%
50%
0%
0%