Banks Lead U.S. Stocks Higher With Yields Climbing: Markets Wrap
- Pelosi says ‘hopeful’ about spending deal with White House
- S&P 500 ended Wednesday lower after disappointment on aid
WATCH: Former Federal Reserve Chairman Alan Greenspan says productivity growth has slowed “very dramatically,” suggesting slower U.S. economic growth in the intermediate term.
Source: BloombergThis article is for subscribers only.
U.S. stocks rose as banks rallied on a jump in Treasury yields jumped, while lawmakers in Washington continue to haggle over a spending bill.
The S&P 500 pared its weekly decline as financial firms rallied almost 2%. The 10-year Treasury yield popped to 0.84%, its highest since June. Energy producers also surged, rebounding with oil from a prior-day selloff. Small caps rose 1.5%.