Markets Right Now: Bank gains drive stocks to new highs
NEW YORK — The latest on developments in financial markets (All times local):
4:00 p.m.
Strong gains by bank stocks pushed major U.S. indexes to more all-time highs.
Banks rallied Tuesday as bond yields rose following comments from Federal Reserve Chair Janet Yellen. Yellen said the Fed was poised to continue raising interest rates, which would help banks earn more from lending money.