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Post by bot on Jun 6, 2018 13:55:57 GMT -5
Dow jumps 240 points, retakes 25,000 level as blue chips hit 12-week high
The Dow Jones Industrial Average rallied to its highest level in more than two months as shares of financials rallied amid a surge in benchmark government bond yields. The Dow most recently was up 230 points, or 0.9%, at 25,028, with shares of JPMorgan Chase & Co. rallying 2.5% and those for Goldman Sachs Group Inc. advancing 1.4%. The move for the banks comes as the yield for the 10-year Treasury note rose to 2.97% from 2.91%, with rising rates helping to bolster appetite for the companies which tend to benefit as borrowing costs rise. A popular gauge of the baking sector, the Financial Select Sector SPDR ETF , was also up 1.6%. Meanwhile, the S&P 500 index picked up 0.4% at 2,760, while the Nasdaq Composite index gained 0.2% at 7,654.
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