“We’re also seeing a continuation of the upward move today in the 10-year (Treasury) yield, but obviously that did not seem to hold back the Dow or the S&P 500,” said Sam Stovall, chief investment strategist at CFRA.
The S&P 500 rose 7.76 points to 4,690.70. The Dow gained 194.55 points to 35,813.80. The Nasdaq slipped 79.62 points to 15,775.14.
Small company stocks also lost ground. The Russell 2000 index fell 3.49 points, or 0.1%, to 2,327.86.
Bond yields rose. The yield on the 10-year Treasury rose to 1.68% from 1.63% late Monday. That helped send banks higher. JPMorgan Chase rose 2.4%.
Oil and gas companies made solid gains as energy prices rose. Devon Energy rose 5.6%.