Banks, Retailers Lead Stock Gains

By Newser Editors and Wire Services
Posted Jan 12, 2018 3:16 PM CST
Banks, Retailers Lead Stock Gains
In this Tuesday, Feb. 9, 2016 file photo, a trader works at the New York Stock Exchange.   (AP Photo/Mark Lennihan, File)

Rising retailers pushed stocks further into record territory Friday on Wall Street, the AP reports. The Standard & Poor's 500 closed out its seventh week of gains in the last eight. .Bond yields rose following a report that inflation rose more than expected last month. The yield on the two-year Treasury topped 2% for the first time since the financial crisis was peaking in 2008. Target jumped 3.8%. Bank of America rose 1.7%. Facebook dropped 4.5% after saying it will make changes that will result in users seeing fewer posts from brands.

The S&P 500 climbed 18 points, or 0.7%, to 2,786. The Dow Jones industrials gained 228 points, or 0.9%, to 25,803. The Nasdaq composite rose 49 points, or 0.7%, to 7,261.

(Read more stock market stories.)

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