Stocks rose on Thursday as traders weighed House Speaker Nancy Pelosi’s latest remarks on the U.S. fiscal stimulus negotiations.
The Dow Jones Industrial Average closed 152.84 points higher, or 0.5%, at 28,363.66. Earlier in the day, the Dow fell as much as 170 points. The S&P 500 gained 0.5% to close at 3,453.49 and the Nasdaq Composite climbed 0.2% to 11,506.01.
Banks led the gains on Thursday as the 10-year Treasury yield hit a four-month high. JPMorgan Chase and Morgan Stanley popped 3.5% and 2.8%, respectively. Citigroup advanced 2.2%.
Pelosi said Thursday a deal on new coronavirus aid was “just about there.” She also said: “If we were not making progress, I wouldn’t spend five seconds…