US STOCKS-Wall St up as banks rally on prospects of higher rates

miércoles 25 de mayo de 2016 11:30 GYT
 

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* Indexes rise: Dow 0.95 pct, S&P 0.77 pct, Nasdaq 0.71 pct (Adds details, changes comment, updates prices)

By Tanya Agrawal

May 25 (Reuters) - Wall Street was higher on Wednesday, extending gains from Tuesday, as the possibility of the U.S. Federal Reserve raising interest rates as early as this summer boosted bank stocks.

Financial stocks were up 1.26 percent, hitting their highest levels since the beginning of the year. Bank of America , JPMorgan and Citigroup were all up between 2-3 percent.

Comments from policymakers in recent days have raised expectations of a rate hike in June, much sooner than previously thought.

Traders are now pricing in a 37.5 percent chance for a June rate hike, up from just 4 percent last week, according to CME Group's FedWatch tool.   Continuación...