Banks, Tech Drive Gains for US Stock Indexes

Dow ends day up 140
By Newser Editors and Wire Services
Posted Mar 26, 2019 3:14 PM CDT
Banks, Tech Drive Gains for US Stock Indexes
In this March 18, 2019, file photo trader Gordon Charlop, right, works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew, File)

Solid gains by banks and technology companies drove stocks higher on Wall Street, erasing the market's losses from a day earlier, the AP reports. Wells Fargo rose 1.9% Tuesday and Intel climbed 1.3%. Bank were benefiting from rising bond yields, which let them charge higher rates on loans. Bed Bath & Beyond soared 22% in very heavy trading after the Wall Street Journal reported that the troubled retailer is being targeted by activist investors. The S&P 500 index rose 20 points, or 0.7%, to 2,818. The Dow Jones Industrial Average rose 140 points, or 0.6%, to 25,657. The Nasdaq added 53 points, or 0.7%, to 7,691. Bond prices fell, sending their yields higher. The yield on the 10-year Treasury rose to 2.42%. (More stock market stories.)

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