Banks, Tech Drive Gains for US Stock Indexes

Solid gains by banks and technology companies drove stocks higher on Wall Street, erasing the market's losses from a day earlier, the AP reports. Wells Fargo rose 1.9% Tuesday and Intel climbed 1.3%. Bank were benefiting from rising bond yields, which let them charge higher rates on loans. Bed Bath & Beyond soared 22% in very heavy trading after the Wall Street Journal reported that the troubled retailer is being targeted by activist investors. The S&P 500 index rose 20 points, or 0.7%, to 2,818. The Dow Jones Industrial Average rose 140 points, or 0.6%, to 25,657. The Nasdaq added 53 points, or 0.7%, to 7,691. Bond prices fell, sending their yields higher. The yield on the 10-year Treasury rose to 2.42%. (More stock market stories.)