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U.S. stocks move higher as banks surge with bond yields

U.S. stocks move higher as banks surge with bond yields

Bank stocks are climbing Monday morning as bond yields continue to rise. Bond yields are climbing to their highest levels this year, which points to higher interest rates and bigger profits for banks from lending money. Investors have been selling bonds, pushing yields higher, as they expect the spending plans of president-elect Donald Trump to lead to higher inflation.

The big moves for financial firms are pulling the broader stock market higher. Investors are selling companies that pay big dividends like utilities and phone companies as bonds become more appealing to investors seeking income. The dollar is also rising.

KEEPING SCORE: The Dow Jones industrial average rose...

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