Subscribe / Renew |
|
Contact Us |
|
► Subscribe to our Free Weekly Newsletter |
home | Welcome, sign in or click here to subscribe. | login |
February 15, 2017
NEW YORK (AP) — Bank stocks jumped Tuesday on hopes that bigger profits are ahead, and U.S. indexes again pushed to record highs.
Stocks had been mostly lower when the day's trading began, but indexes reversed course after Federal Reserve Chair Janet Yellen told a Senate committee that the central bank could raise interest rates as soon as next month. Bond yields jumped immediately afterward and fed through to shares of banks, which can benefit from higher rates by charging more for loans.
. . .