Business

Stocks drift higher; Banks gain as rates rise

By The Associated Press
Published June 17, 2014 8:10pm ET
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Stocks drift higher; Banks gain as rates rise
FILE - This Aug. 9, 2011 photo shows a Wall Street street sign near the New York Stock Exchange, in New York. (AP Photo/Mark Lennihan, File) | Mark Lennihan

Stocks are closing slightly higher, led by gains in the financial sector.

Banks including Bank of America and Morgan Stanley rose Tuesday as long-term interest rates moved higher. That gave banks the prospect of earning more money from making loans.

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