Reuters
US STOCKS-Dow gains, S&P 500 ends lower as market weighs Fed rate hikes
The Dow rose and the S&P 500 ended lower in choppy trade on Friday, as beaten-down bank shares gained and investors grappled with how best to deal with an economy that could skid as the Federal Reserve moves to aggressively tackle inflation. The yield on the benchmark 10-year U.S. Treasury note hit a three-year high of 2.73%, helping boost the S&P banking index , which rose 1.18%, after slumping to 13-month lows on Thursday. The big rate-sensitive lenders all rose, with JPMorgan Chase & Co gaining 1.8%, Bank of America Corp 0.7%, Citigroup Inc 1.7% and Goldman Sachs Group Inc 2.3%.
