S&P 500 rises as financials gain with Treasury yields

Published by
Reuters

By Caroline Valetkevitch NEW YORK (Reuters) – The S&P 500 rose on Friday, with financial shares gaining as the benchmark Treasury yield jumped to its highest in nearly three years and offset declines in tech and other big growth names. The Dow was also higher, while the Nasdaq was down on the day. The S&P 500 financials sector was up about 1% and gave the S&P 500 its biggest boost, while technology was down 0.4% and put the most pressure on the benchmark index. Investors are assessing how aggressive the Federal Reserve will be as it tightens policy after Fed Chair Jerome Powell this week said …

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