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S&P, Dow move higher as bank stocks climb again

Dow Jones up 0.3%, S&P up 0.06%, Nasdaq off 0.2%


The S&P 500 and the Dow indexes rose in morning trading on Wednesday as bank stocks added to gains following strong economic data and encouraging comments from Federal Reserve officials that sealed the case for a December rate increase. JPMorgan climbed 1.9 percent and Bank of America rose 2.2 percent, making the S&P financial index the biggest gainer among S&P 500 sectors.   Fed chair nominee Jerome Powell said on Tuesday the case for a December rate hike was coming together and also hinted at lighter bank regulation, while Fed chair Janet Yellen said on Wednesday that a ...

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First Published: Wed, November 29 2017. 21:01 IST