Bank Stocks Offer Slight Boost to Indexes

Dow climbs 63 points
By Newser Editors and Wire Services
Posted Dec 28, 2017 3:31 PM CST
In this Dec. 4, 2017, file photo, a specialist works at his post on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

(Newser) – US stock indexes ended slightly higher Thursday in light trading as banks posted more gains. The Dow Jones industrial average climbed 63 points, or 0.3%, to 24,837. The Nasdaq composite rose 10 points, or 0.2%, to 6,950. Meanwhile, the Standard & Poor's 500 index rose 4 points, or 0.2%, to 2,687. Northern Trust gained 1.7% Thursday. Bond prices fell, while the yield on the 10-year Treasury rose to 2.43%. Bond yields rising helps banks because they can charge higher interest rates on loans. Natural gas prices jumped 7% as temperatures dropped in the US. Consumer-goods makers lagged the most, while oil prices closed higher. (Read more stock market stories.)

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