All of the S&P 500’s major sectors were trading in positive territory early Thursday as markets climbed as a key gathering of central bankers in Wyoming got under way. Gains for S&P 500’s
11 sectors were led by 0.7% rise in the financials sector
as yields on government debt gained some altitude off multiyear lows. Higher yields tend to be supportive of banking business models. The S&P 500 index
overall was gaining 0.4% at 2,935. Meanwhile, the Dow Jones Industrial Average
was up 140 points, or 0.5%, to 26,338, while the Nasdaq Composite Index
advanced 0.2% to 8,037. The 10-year Treasury rate
was up slightly higher at 1.58% from 1.577% late Wednesday. Central bankers and academics are gathering in Jackson Hole, Wyo., to discuss the health of the global economy, which will be headlined by a speech from Federal Reserve Chairman Jerome Powell on Friday.
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