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Wall Street pares losses as financial stocks climb

Reuters 

By Sruthi Shankar(Reuters) - Wall Street's major indexes pared earlier losses on Wednesday as higher U.S. government bond yields drove gains for banks and other financial stocks.Markets had initially fallen on a Bloomberg report that China, the world's biggest holder of U.S. Treasuries, was considering slowing purchases.The S&P financial index rose more than 1 percent, helped by gains in Wells Fargo and JPMorgan ahead of results on Friday.The China report weakened the dollar, which slipped 0.25 percent, while gold jumped to its highest in four months.At 12:31 p.m. ET (1731 GMT), the Dow ...

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First Published: Thu, January 11 2018. 00:26 IST
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