U.S. Stocks Advance as Banks Gain, Energy Shares Rise With Oil

U.S. stocks rose, after equities reached a two-month low, as bank shares rallied amid higher bond yields and energy companies rose with oil.

Noble Energy Corp. and Newfield Exploration Co. added more than 2.4 percent. Bank of America Corp. and Wells Fargo & Co. rose at least 1.3 percent. The Dow Jones Transportation Average erased an earlier drop into correction territory as airlines continued to slump.

The Standard & Poor’s 500 Index rose 0.2 percent to 2,084.15 at 1:13 p.m. in New York, after earlier losing as much as 0.3 percent. The index is down 2.2 percent since it last closed at a record on May 21. The Dow Jones Industrial Average added 37.05 points, or 0.2 percent, to 17,803.60. The Dow erased its gain for 2015 on Monday. The Nasdaq Composite Index was little changed.

Source : Bloomberg


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