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.