U.S. stocks climbed Wednesday, helped by banks and reopening stocks as the 10-year Treasury yield edged higher.

The S&P 500 added 0.2% to a new closing high of 4,496.19. 

The yield on the benchmark 10-year Treasury note rose as high as 1.352% Wednesday, hitting its highest level since earlier in the month when it yielded as much as 1.364%. That lifted shares of JPMorgan 2%, while Wells Fargo climbed 1.9%. Regional banks Zions gained 1.6%, and Regions Financial rose 1.5%. Fifth Third added 2.2%.

The highly anticipated Jackson Hole symposium kicks off Thursday, and central bankers may provide updates on their plan around tapering monetary stimulus. The Federal Reserve has been purchasing at least $120 billion of bonds per month to curb longer-term interest rates and jumpstart economic growth as the pandemic wreaked havoc on the economy.

U.S. stock futures were lower in overnight trading on Wednesday following the S&P 500′s rally that saw the index cross the 4,500 level for the first time ever.

The Nasdaq Composite rose 0.15%, also notching a record close.

The yield on the benchmark 10-year Treasury note rose as high as 1.352% Wednesday, hitting its highest level since earlier in the month when it yielded as much as 1.364%.

Last week’s jobless claim data will be released at 8:30 a.m. ET on Thursday. Economists polled by Dow Jones are expecting 350,000 Americans filed for unemployment last week, compared to the prior week’s 348,000.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.

To subscribe to real time signal, email to us at futures.coin@gmail.com for details. Sign up today for September subscription.

Plan A : Attempt long if oil price trades firmly above 66.3. Targets are 67.8 and 68.8.

Plan B : Consider short if oil price surges but fails to stay firm above 67.8. Targets are 66.3 and 65.5.