Written by Associated Press
Stocks are closing higher on Wall Street, driving several of the major indexes to new highs.
Retailers and consumer goods companies led the gainers. Energy stocks fell along with the price of crude oil. Utilities declined as bond yields rose.
Lowe’s rose 3.5 percent after naming three new directors.
American Express slid 1.8 percent after the company suspended its share buy-back program for six months.
The Standard & Poor’s 500 index rose 12 points, or 0.4 percent, to 2,810.
The Dow Jones industrial average gained 53 points, or 0.2 percent, to 26,071. The Nasdaq composite added 40 points, or 0.6 percent, to 7,336.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.64 percent, the highest level in more than three years.