(CNBC) -- Stocks rose on Wednesday as bank shares rallied on higher interest rates, while Boeing rose.
The Dow Jones industrial average closed 346.41 points higher at 25,146.39 with Boeing rising 3.2 percent and contributing the most to the gains. J.P Morgan and Goldman Sachs were also among the biggest contributors of gains. The Dow also closed above 25,000 for the first time since mid-March.
The S&P 500 gained 0.9 percent to finish at 2,772.35 as financials rose 1.9 percent. The benchmark 10-year Treasury note yield rose to 2.98 percent on Wednesday, following yields in Europe after the European Central Bank hinted at winding down its asset-purchasing program.
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