US stocks pare gains as health care sector slumps

Early gains for U.S. stocks were mostly gone by the end of the day, leaving indexes mixed at the closing bell.


A late slump in health care stocks offset gains in financial stocks Friday.

Banks and other financial companies got a boost after Federal Reserve Chair Janet Yellen said that the central bank was still likely to raise interest rates this year.

Nike jumped 9 percent after posting strong earnings.

The Dow Jones industrial average climbed 113 points, or 0.7 percent, to 16,314.

The Standard & Poor's 500 index slipped a point to 1,931. The Nasdaq composite slumped 48 points, or 1 percent, to 4,686.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.16 percent.