Sto­ryS­tocks

Daily Freeman (Kingston, NY) - - BUSINESS -

U.S. stocks rose Wed­nes­day af­ter two days of losses. Banks made the big­gest gains fol­low­ing pos­i­tive re­ports about the per­for­mance of ser­vice com­pa­nies and fac­to­ries. That sug­gests the U.S. econ­omy re­mains on solid foot­ing and that the Fed­eral Re­serve could raise in­ter­est rates later this year. En­ergy com­pa­nies rose as the price of oil climbed an­other 2 per­cent and closed at al­most $50 a bar­rel. Oil is at its high­est price since late June. Bond yields also climbed on the ex­pec­ta­tion of higher in­ter­est rates. That led to losses for stocks that pay big div­i­dends, like phone com­pa­nies and real es­tate in­vest­ment trusts.

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