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New York - Banks Lead Stocks To More Record Highs

Published on: September 12, 2017 04:31 PM
By: AP
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A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 8, 2017. REUTERS/Brendan McDermid A trader works on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 8, 2017. REUTERS/Brendan McDermid

New York - Stocks climbed to more record highs on Wall Street, led by big gains in banks.

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Banks were benefiting from higher bond yields Tuesday, which allow them to charge higher interest rates on loans. Bank of America gained 2.5 percent and Wells Fargo rose 1.8 percent.

Chemicals company DowDuPont jumped 2.5 percent after it made changes to its breakup plans. Apple slipped after announcing its new lineup of iPhones.

The Standard & Poor’s 500 index rose 8 points, or 0.3 percent, to 2,496.

The Dow Jones industrial average climbed 61 points, or 0.3 percent, to 22,118. The Nasdaq composite increased 22 points, or 0.3 percent, to 6,454.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.17 percent.



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