Markets Right Now: Stocks edge higher as banks jump

Associated Press |

NEW YORK (AP) — The latest on developments in financial markets (all times local):

Stocks are opening with modest gains after the Federal Reserve said U.S. industrial production jumped in August.

The central bank said production of cars, oil and natural gas rose while output at mines and utilities also grew.

Bond yields rose Friday, sending bank stocks higher. JPMorgan Chase gained 0.7 percent and State Street rose 1.1 percent.

The yield on the 10-year Treasury note rose to 3 percent.

The S&P 500 index rose 2 points, or 0.1 percent, to 2,906.

The Dow Jones Industrial Average added 37 points, or 0.2 percent, to 26,183. The Nasdaq composite gained 9 points, or 0.1 percent, to 8,022.

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