Market Shakes Inflation Worries, Ends Up

Banks had a good day
By Newser Editors and Wire Services
Posted Feb 14, 2018 3:17 PM CST
This Oct. 4, 2014 file photo, shows the facade of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – Stocks rose for the fourth day in a row Wednesday on Wall Street after shaking off an early stumble following another sign that inflation was picking up slightly, the AP reports. The market started slightly lower but turned higher within the first hour of trading and kept going. The Dow Jones industrial average rose 253 points. Bond yields rose following the report on inflation in consumer prices. The rising yields helped send banks higher. Bank of America rose 2.6%. Technology, industrial, and consumer-focused companies also rose.

The Standard & Poor's 500 index rose 35 points, or 1.3%, to 2,698. The Dow rose 1% to 24,893. The Nasdaq climbed 130 points, or 1.9%, to 7,143. The yield on the 10-year Treasury note rose to 2.91%.

(Read more stock market stories.)

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