Indexes Strengthened by Banks, Boeing

The Dow Jones industrial average and S&P 500 rose on Wednesday as bank shares and Boeing climbed higher.

The Dow hiked 85.07 points to 24,885.05, with Boeing rising 0.3% and contributing the most to the gains. J.P Morgan and Goldman Sachs were also among the biggest contributors of gains.

The S&P 500 poked ahead 0.35 points to 2,749.15, as financials climbed 0.8%, getting a boost from higher interest rates.

The NASDAQ lost 13.44 points to 7,624.42, as tech shares gave up earlier gains. The index hit a fresh all-time high earlier in the session.

Tech has been on fire recently, rising more than 6% over the past month to a record high. The best-performing tech names over that time include chip makers Advanced Micro Devices, Micron Technology and Microchip Technology. PayPal, Electronic Arts and Facebook are also up sharply over the past month.

Shares of J.P. Morgan Chase, Bank of America and Morgan Stanley all rose more than 1%, while Goldman Sachs climbed 0.6%.

Mexico — one of the biggest U.S. trade partners — unveiled tariffs on Tuesday that target U.S. goods such as pork, cheese and steel. This comes after the Trump administration last week slapped tariffs on steel and aluminum imports from the European Union, Mexico and Canada.

Canada’s Foreign Minister Chrystia Freeland said the country plans to slap dollar-for-dollar tariffs on the U.S. Meanwhile, the E.U. threatened to retaliate with tariffs of its own.

Prices for the benchmark for the 10-year U.S.Treasury slouched, raising yields to 2.96% from Tuesday’s 2.91%. Treasury prices and yields move in opposite directions.

Oil prices dipped 14 cents at $65.38U.S. a barrel.

Gold prices shone brighter $3.60 to $1,305.80U.S. an ounce.

This article provided by NewsEdge.