Markets Right Now: Strong economic data sends yields higher

Markets Associated Press

The latest on developments in financial markets (All times local):

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9:35 a.m.

Big gains in consumer prices and retail sales are sending bond prices lower and yields higher in early trading. Bank stocks rose along with bond yields, but most other stocks fell.

The yield on the 10-year Treasury note rose to 2.51 percent Wednesday, up from 2.47 percent late Tuesday.

The higher bond yields sent high-dividend stocks broadly lower for the second day running. Utilities, real estate companies and phone companies fell more than the rest of the market.

The Standard & Poor's 500 index fell 1 point to 2,336.

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The Dow Jones industrial average rose 20 points, or 0.1 percent, to 20,525. The Nasdaq composite increased 1 point to 5,784.

More stocks fell than rose on the New York Stock Exchange.