U.S. Stocks Rise as Banks Buoy; Treasuries Slide: Markets Wrap
- Oil rises above $71 a barrel; Nasdaq, Russell indexes decline
- Financial firms gain as rates increase; dollar falls
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U.S. equities edged higher and Treasuries declined as investors assessed the latest developments in the varied trade disputes. The dollar fell.
The S&P 500 Index gained for a second day, getting a lift from banking stocks as the 10-year Treasury yield rose toward its highest level of the year, while rate-sensitive utilities weighed. Grocers dropped on a report that said Amazon Inc. is considering opening as many as 3,000 cashierless stores. Shares of Caterpillar Inc. and The Boeing Co. helped push up the Dow Jones Industrial Average after China said it won’t devalue its currency.