Gains for bank stocks help lead indexes higher

Stocks shook off a weak start and closed broadly higher Wednesday, nudging the Dow Jones Industrial Average to another alltime high.

U.S. Treasury yields continued to head higher. Bank stocks benefited from the latest upward move in yields, which will allow them to charge higher rates on mortgages and other loans, increasing their profits.

The S&P 500 index rose 44.06 points to 3,925.43. The Dow climbed 424.51 points, or 1.4% to 31,961.86, an all-time high. The Nasdaq Composite added 132.77 points, or 1%, to 13,597.97.

The Russell 2000, which tracks smaller companies, continued to outpace the rest of the market, as it has since the beginning of the year. That’s a sign investors are feeling more confident about economic growth. The index rose 53.07 points, or 2.4%, to 2,284.38.