U.S. stocks climbed, led by advances in bank shares, following the Federal Reserve’s move to raise rates for the second time in almost a decade. The Fed sees three rate increases instead of two in September, somewhat due to the expected fiscal stimulus promised by President-elect Donald Trump.
The Dow Jones Industrial Average climbed 0.3 percent to 19,852.24. The S&P 500 added 0.39 percent to 2,262.03 while the Nasdaq Composite gained 0.37 percent to 5,456.86. The Dow ended around 60 points higher, as Goldman Sachs contributed the most advances. It was also nearly 50 points away from reaching the 20,000 mark. The S&P gained, as financials climbed almost one percent to lead advancers. Shares of Yahoo dropped 6.1 percent to $38.41 while Verizon rose 0.3 percent at $51.81.
Treasury yields jumped sharply, as the benchmark 10-year note yield wavered by almost 2.6 percent, and the two-year note yield traded nearly 1.26 percent.
The material has been provided by InstaForex Company – www.instaforex.com