Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., August 15, 2023.
A rise in U.S. Treasury yields, with the 10-year yields up at 4.813%, pressured megacaps Apple (AAPL.O), Microsoft (MSFT.O), Alphabet (GOOGL.O) and Amazon.com (AMZN.O), dragging them down between 0.1% and 0.5%.
Bank of America (BAC.N) gained 3.1%, boosting the S&P 500 (.SPX) as it joined rivals in earning more from interest payments by its customers, while investment banking and trading fared better than expected.
Economy-sensitive energy (.SPNY) and materials stocks (.SPLRCM) led gains amongst the major S&P 500 sectors, while information technology (.SPLRCT) lagged behind.
Dollar Tree (DLTR.O) rose 4.4% after Goldman Sachs upgraded the discount retail chain's shares to "buy" from "neutral".
Persons:
Brendan McDermid, Goldman Sachs, megacaps, Sam Stovall, Thomas Barkin, Biden, Joe Biden, Benjamin Netanyahu, Lockheed Martin, Ankika Biswas, Shashwat Chauhan, Vinay Dwivedi
Organizations:
New York Stock Exchange, REUTERS, Companies, Biden, Dow, Nasdaq, Treasury, megacaps Apple, Microsoft, CFRA Research, Federal Reserve Bank of Richmond, Bank of America, Semiconductor, Dow Jones, Israel, Washington, VMware, NYSE, Thomson
Locations:
New York City, U.S, China, megacaps ., Philadelphia, Bengaluru