Stocks rose in afternoon trading on Wall Street Friday with technology companies and banks leading the way higher.
(Nicole Pereira/New York Stock Exchange via AP)BANGKOK – Stocks rose on Wall Street Friday, erasing the market’s losses from earlier in the week and avoiding a second straight weekly drop for the S&P 500.
Most stocks across Wall Street were rising, but losses for some tech heavyweights helped pull the Nasdaq composite down by 0.1%.
Higher yields can make investors less willing to pay high prices for stocks, with companies seen as the most expensive taking the most pain.
The higher yields helped lift stocks of banks, in part because higher interest rates allow them to make bigger profits from making loans.