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Banks Lead U.S. Stocks Higher With Yields Climbing: Markets Wrap

  • Pelosi says ‘hopeful’ about spending deal with White House
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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: Bloomberg
Updated on

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%.