Investors continue to wait to see whether the Federal Reserve will raise interest rates this year. The next key piece of data is coming Friday: the August jobs report. In her comments, Yellen said, “The case for an increase [in interest rates] has strengthened in recent months.”Banks are a major beneficiary of rising interest rates because they can charge more for loans when interest rates rise. A strong jobs report would give the Federal Reserve additional ammunition to raise interest rates either at its September meeting or later this year. Apple fell 0.8% to $106 after the European Union ruled that it has to pay $14.5 billion in back taxes to Ireland.

Source: Los Angeles Times August 30, 2016 14:03 UTC