Bank shares lead Wall Street higher

Credit: Reuters Studio
Published on March 26, 2019 - Duration: 01:00s

Bank shares lead Wall Street higher

U.S. stocks gained on Tuesday, with financials snapping a five-day losing streak as Treasury yields stabilized above 15-month lows.

Fred Katayama reports.


Bank shares lead Wall Street higher

Bank and energy shares were pick-me-ups for investors Tuesday, helping Wall Street gain ground for the first time in three sessions.

Treasury yields stabilized, and that lifted investors' spirits.

Payne Capital Management financial advisor, Courtney Dominguez: SOUNDBITE: PAYNE CAPITAL MANAGEMENT FINANCIAL ADVISOR, COURTNEY DOMINGUEZ, (ENGLISH) SAYING: "Just recently, we have had several down days here.

And we're just seeing a lot of fear and unrest when it comes to negative headlines out there.

But at the end of the day, the data still looks really good.

Unemployment's really low.

Valuations are still around their historical averages.

And we're seeing wage growth at steady rates." Investors brushed aside more signs of a slowing economy.

Consumer confidence fell in March.

Homebuilding dropped more than expected in February.

That pulled down shares of Toll Brothers, DR Horton and other homebuilders.

Rising crude prices drove up oil stocks like ExxonMobil and Noble Energy.

Viacom shares jumped.

The New York Post reports it and CBS are gearing up to rekindle merger talks one day after Viacom settled a carriage contract dispute with AT&T.

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