Banks and other financial companies got a boost after Federal Reserve Chair Janet Yellen said that the central bank was still likely to raise interest rates this year.
CLOSING BELL
Dow Up 113, Nasdaq Down 48
Banks and other financial companies got a boost after Federal Reserve Chair Janet Yellen said that the central bank was still likely to raise interest rates this year.
Nike jumped 9% after posting strong earnings.
The Dow Jones industrial average climbed 113 points, or 0.7%, to 16,314.
The Standard & Poor’s 500 index slipped a point to 1,931. The Nasdaq composite slumped 48 points, or 1%, to 4,686.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.16%
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