US STOCKS-Wall St propped up by gains for bank stocks

Reuters

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 (Adds comment, more on individual share moves)
    * Financials gain as 10-yr Treasury yields top 3 pct
    * Walmart falls on bearish Goldman Sachs comments
    * Microsoft lifts S&P technology sector, though Apple slips
    * Indexes: Dow and S&P up 0.1 pct, Nasdaq gains 0.3 pct

    By Shreyashi   Sanyal
    Sept 14 (Reuters) - U.S. stocks inched higher for a fifth
day on Friday, as declines in real estate and utilities were
offset by gains for banking stocks, driven by a rise in 10-year
U.S. government bond yields above 3 percent. 
    Financial stocks rose  .SPSY  0.52 percent, the most among
the 11 major S&P 500 sectors, after the 10-year U.S. Treasury
yield broke back above the key technical level for the first
time since the start of August.  US/ 
    Helping drive yields was August U.S. retail sales which
recorded their smallest gain in six months. An upward revision
to July data also kept intact expectations of strong economic
growth in the third quarter.  urn:newsml:reuters.com:*:nL2N1VZ1PB
    Seven of the S&P's 11 sectors, however, were lower, led by a
1.5-percent slide in the real estate index  .SPLRCR  and a
1.1-percent drop in utilities  .SPLRCU .
    Weighing on utilities was NiSource  NI.N , which tumbled
10.1 percent after fire investigators said they suspected the
company's unit Columbia Gas was linked to a series of gas
explosions in Boston suburbs on Thursday.  urn:newsml:reuters.com:*:nL2N1W00A7
    "Passing the 3 percent level should buoy financials," said
Tom White, chief market strategist at TradeWise Advisors in
Chicago, Illinois. 
    "Investors are being prudent because they are going into
sectors that have been beaten up and taking profits out from
those that have rallied. It's going to be a stock-picker's
market." 
     At 10:59 a.m. EDT the Dow Jones Industrial Average  .DJI 
was up 0.1 percent at 26,175.05. The S&P 500  .SPX  rose 0.08
percent to 2,906.56 and the Nasdaq Composite  .IXIC  0.26
percent to 8,034.30.
    The Federal Reserve said on Friday that U.S. industrial
production rose 0.4 percent in August, as strong output in auto
manufacturing offset lackluster production in the rest of the
factory sector.  urn:newsml:reuters.com:*:nFOMEKEE2Q
    That, added to signs this week that Beijing and Washington
are returning to the table, helped prod industrial stocks 0.1
percent higher  .SPLRCI . 
    Tech stocks  .SPLRCT  gained 0.17 percent, despite Apple
 AAPL.O  slipping 0.6 percent, with Adobe Systems  ADBE.O 
rising 3.2 percent after the company topped quarterly revenue
and profit expectations.  urn:newsml:reuters.com:*:nL3N1VZ5U5
    Walmart  WMT.N  fell 0.6 percent after Goldman Sachs raised
questions around the retailer's purchase of a majority stake in
India's Flipkart.
    Declining issues outnumbered advancers for a ratio of
1.33-to-1 on the NYSE, but advancing issues outnumbered
decliners by a 1.07-to-1 on the Nasdaq.
    The S&P index recorded 33 new 52-week highs and no new lows,
while the Nasdaq recorded 63 new highs and 32 new lows.

 (Reporting by Shreyashi Sanyal in Bengaluru; Editing by Shounak
Dasgupta and Arun Koyyur)
 ((Shreyashi.Sanyal@thomsonreuters.com; +1 646 223 8780 ;
Reuters Messaging:
Shreyashi.Sanyal.thomsonreuters.com@reuters.net))

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