Wall Street Closes Higher, Powered By Industrials
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2018-02-23 HKT 05:48
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Stocks closed mostly higher on Wall Street on Thursday after a midday rally largely faded away by the end of the session.
Industrial stocks contributed the most to the market's gains on Thursday. United Technologies rose 3.3 percent a day after its CEO said the company may split up.
Energy companies also rose. Chesapeake Energy jumped 21.7 percent, the most in the Standard & Poor's 500 index, after reporting strong earnings.
Investors were relieved to see bond yields pull back from the four-year highs they reached a day earlier. The yield on the 10-year Treasury fell to 2.92 percent.
The S&P 500 rose 0.1 percent to 2,703.
The Dow Jones industrial average climbed 0.7 percent to 24,962. The Nasdaq slipped 0.1 percent to 7,210. (AP)
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