Markets Right Now: Banks lead US stocks higher

Banks are rising much more than the rest of the market Wednesday as traders hope that interest rates will move higher, which would make it more profitable for banks to make loans.

High-dividend stocks like utilities and phone companies moved lower as bond yields climbed.

Consumer goods retailers fell the most after Target reported weak sales and gave a forecast that disappointed investors.

Home improvement retailer Lowe's rose 3 percent after it reported strong first-quarter results that were aided by a housing boom.

Utility companies sliding as investors wonder if interest rates will rise in June.