Dow Jones industrial average closes above 20,000 points for the first time

NEW YORK (AP) –The Dow Jones industrial average closed above 20,000 points for the first time, the latest milestone in a record-setting drive for the stock market.

It’s been two months since the Dow crossed 19,000 points. Other major U.S. indexes also closed at all-time highs Wednesday.

Banks and other financial companies posted the biggest gains. Wells Fargo jumped 3.7 percent.

Industrial companies also rose sharply. Boeing surged 4.2 percent, the biggest gain in the Dow.

The Dow, which tracks 30 major industrial companies, surged 155 points, or 0.8 percent, to 20,068.

The Standard & Poor’s 500 index rose 18 points, or 0.8 percent, to 2,298. The Nasdaq composite rose 55 points, or 1 percent, to 5,656.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.52 percent.

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