While much of the nation’s weather has turned frigid, the U.S. stock market remains red-hot. Notching its latest 1,000-point milestone, the Dow Jones Industrial Average rose 151 points, or 0.6 percent, to close at a record 25,073 Thursday.
Stocks aren’t only scaling new heights — they’re reaching those peaks more quickly: The blue-chip index reached the 24,000 point threshold only in November. The Nasdaq Composite Index also reached a new milestone this week, closing above 7,000 for the first time amid strong profit growth by technology companies.
That strength continued Thursday as tech stocks outpaced the rest of the of market. Banks also are benefiting from higher bond yields, which allow them to charge higher interest rates on mortgages and other kinds of loans.