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Tech, Banks Lead Gains on Wall Street

Dow ends day up 177
By Newser Editors and Wire Services
Posted Jul 23, 2019 3:16 PM CDT
Traders James Riley, left, and Mark Muller work on the floor of the New York Stock Exchange, Monday, July 22, 2019.   (AP Photo/Richard Drew)

(Newser) – Stocks rose again on Wall Street as a wave of buying built momentum as the day went on, pushing indexes closer to their recent record highs, the AP reports. Banks and technology companies did the heavy lifting Tuesday. Bank of America added 2.3% and Nvidia climbed 2.5%. Earnings reports are getting into full swing, and several companies moved sharply higher after turning in impressive results. Hasbro rose 10% and Coca-Cola added 6.1%. Banks were benefiting from higher bond yields, which allow them to charge higher interest rates on loans. The yield on the 10-year Treasury rose to 2.07% from 2.04% late Monday. The S&P 500 rose 20 points, or 0.7% to 3,005. The Dow Jones Industrial Average rose 177 points, or 0.7%, to 27,349. The Nasdaq rose 47, or 0.6%, to 8,251. (Read more stock market stories.)

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