Dow Jones industrials break through 25,000
NEW YORK, NY - The latest on developments in financial markets (All times local):
4 p.m.
The Dow Jones industrial average closed above 25,000 points for the first time, just five weeks after its first close above 24,000.
Technology companies, which put up some of the biggest gains in the last year, continued to outpace the rest of the market Thursday.
Banks were benefiting from higher bond yields, which allow them to charge higher interest rates on mortgages and other kinds of loans.
Microsoft, JPMorgan Chase and Wells Fargo all posted solid gains.
The Dow increased 152 points, or 0.6 percent, to 25,075.
The Standard & Poor's 500 index rose 10 points, or 0.4 percent, to 2,723.
The Nasdaq composite climbed 12 points, or 0.2 percent, to 7,077.
Bond prices fell. The yield on the 10-year Treasury note rose to 2.45 percent.
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11:45 a.m.
The Dow Jones industrial average is trading above 25,000 points for the first time, just five weeks since its first close above 24,000.
Technology companies, which put up some of the biggest gains in the last year, continued to outpace the rest of the market Thursday.
Banks were benefiting from higher bond yields, which allow them to charge higher interest rates on mortgages and other kinds of loans.
Microsoft, JPMorgan Chase and Wells Fargo posted solid gains in midday trading.
The Dow increased 125 points, or 0.5 percent, to 25,047.
The Standard & Poor's 500 index rose 10 points, or 0.4 percent, to 2,723.
The Nasdaq climbed 11 points, or 0.2 percent, to 7,076.
Bond prices fell. The yield on the 10-year Treasury rose to 2.48 percent.
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9:35 a.m.
The Dow Jones industrial average traded above 25,000 points for the first time, blasting through another 1,000-point milestone.
The Dow's latest breakthrough came in early trading Thursday and just five weeks after closing above 24,000 points for the first time.
Technology companies and banks had some of the biggest gains in early trading. Wells Fargo rose 1.9 percent and Microsoft rose 0.7 percent.
The Standard & Poor's 500 index rose 9 points, or 0.3 percent, to 2,722.
The Dow Jones industrials increased 118 points, or 0.5 percent, to 25,037. The Nasdaq climbed 16 points, or 0.2 percent, to 7,081.