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This March 4, 2013, file photo shows a sign for Wall Street on the side of building near the New York Stock Exchange. Stocks are recovering early Thursday, April 20, 2017, as banks rise with bond yields and interest rates. THE ASSOCIATED PRESS

OPENING BELL: Banks rise as earnings boost stocks

NEW YORK — Stocks are recovering as banks rise with bond yields and interest rates. Investors are also buying consumer-focused companies and small firms, a bet that the U.S. economy will perform well.

 

Company earnings remain in focus Thursday morning. American Express rose 3.9 percent. It had a solid first quarter as its credit card members spent more and kept bigger balances on their cards.

 

Telecom giant Verizon dipped 2.2 percent as it lost cellphone subscribers and its profit dropped. Big dividend payers like phone companies also fell as bond yields rose.

 

The Standard & Poor's 500 index added 6 points, or 0.3 percent, to 2,344.

 

The Dow Jones industrial average rose 48 points, or 0.2 percent, to 20,452. The Nasdaq composite added 29 points, or 0.5 percent, to 5,891.

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