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VOL. 40 | NO. 40 | Friday, September 30, 2016

Banks, energy stocks lead market higher

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NEW YORK (AP) — Banks and energy companies led stocks to close higher on Wall Street.

Banks benefited from an increase in bond yields, which will allow them to raise interest rates on loans. Bank of America rose 2 percent Tuesday.

Higher prices for crude oil and natural gas helped send energy companies higher. Chesapeake Energy jumped 6.8 percent.

Real estate and phone companies fell as the rise in bond yields made those sectors less appealing to investor seeking income.

The Dow Jones industrial average rose 112 points, or 0.6 percent, to 18,281.

The Standard & Poor's 500 index gained 9 points, or 0.4 percent, to 2,159. The Nasdaq composite climbed 26 points, or 0.5 percent, to 5,316.

Bond prices fell. The yield on the 10-year Treasury note rose to 1.71 percent.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 0 0 0
MORTGAGES 0 0 0
FORECLOSURE NOTICES 0 0 0
BUILDING PERMITS 0 0 0
BANKRUPTCIES 0 0 0
BUSINESS LICENSES 0 0 0
UTILITY CONNECTIONS 0 0 0
MARRIAGE LICENSES 0 0 0