Stocks Set New Highs, Bond Yields Climb
The exterior of the New York Stock Exchange during the closing bell, in New York on Feb. 10, 2017. (BRYAN R. SMITH/AFP/Getty Images)
NEW YORK—Stocks and bond yields punched higher, marking new records for U.S. indexes, following more reports showing the U.S. economy continues to strengthen.
The encouraging data out Wednesday could push the Federal Reserve to raise interest rates more aggressively than investors were expecting from the record lows marked during the Great Recession.
The yield on the 10-year Treasury note rose to 2.50 percent.
Health care stocks rose more than the rest of the market. Endo International jumped 7.9 percent.
Utilities and real estate companies fell.
The Standard & Poor’s 500 index rose 11 points, or 0.5 percent, to 2,349.
The Dow Jones industrial average rose 107 points, or 0.5 percent, to 20,611. The Nasdaq composite increased 36 points, or 0.6 percent, to 5,819.