NEW YORK, Aug. 19 (Xinhua) -- U.S. Stocks closed higher Monday as Treasury yields stabilized.
The Dow Jones Industrial Average rose 249.78 points, or 0.96 percent, to 26,135.79. The S&P 500 rose 34.97 points, or 1.21 percent, to 2,923.65. The Nasdaq Composite Index rose 106.82 points, or 1.35 percent, to 8,002.81.
The benchmark 10-year Treasury yields rose to about 1.6 percent from around 1.54 percent late Friday. Bank shares rose along with yields. Goldman Sachs and J.P. Morgan Chase rose 1.39 percent and 0.9 percent respectively.
Last week, the 10-year Treasury yields briefly fell below two-year Treasury yields. The yield-curve inversion was seen as a signal that a recession might be on the horizon.
All of the 11 primary S&P 500 sectors rose. Energy and technology sectors rose 2.14 percent and 1.56 percent, respectively, the top two gainers.
Twenty-eight of the 30 Dow component companies traded in green territory on Monday, with Cisco System and Dow leading the gains. UnitedHealth Group and American Express lost 0.4 percent and 0.18 percent, respectively, the only two laggards. Enditem
