NEW YORK (AP) – 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.

gettyimages 900578770 Dow Industrial Breaks Through 25,000

Traders work on the floor of the New York Stock Exchange (Photo by Spencer Platt/Getty Images)

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.

(© Copyright 2018 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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