Stocks extend their rally with S&P 500 and Nasdaq hitting fifth straight day of gains; European stocks close mixed 
U.S. stocks climbed Wednesday, helped by banks and reopening stocks as the 10-year Treasury yield edged higher. 
The Dow Jones Industrial Average rose 39.24 points, or 0.1%, to 35,405.50. The S&P 500 added 0.2% to a new closing high of 4,496.19. The Nasdaq Composite gained 0.1% to 15,041.86, also a new closing high. 
The yield on the benchmark 10-year Treasury note rose as high as 1.352% Wednesday, hitting its highest level since earlier in the month when it yielded as much as 1.364%. That lifted shares of JPMorgan 2%, while Wells Fargo climbed 1.9%. Regional banks Zions gained 1.6%, and Regions Financial rose 1.5%. Fifth Third added 2.2%. 
Chip makers were higher, with Western Digital jumping 7.8% after a Wall Street Journal report said the company is in advanced talks to merge with Japan’s Kioxia Holdings. Nvidia shares rose 1.9% after the Department of Energy said its new supercomputer will run on the company’s computing platform. Micron Technology also rose 2.8%. 
Johnson & Johnson said on Wednesday that its Covid Vaccine booster shot showed promising results in early stage clinical trials, significantly increasing virus-fighting antibodies. The stock dipped slightly nevertheless. 

The pan-European Stoxx 600 provisionally ended the session little changed, with travel and leisure stocks adding 1.8% to lead gains while utilities slid 0.8%. 
In terms of individual share price movement, Swedish radiation therapy equipment manufacturer Elekta slid nearly 8% to the bottom of the Stoxx 600 after missing first-quarter operating profit expectations. 
Source: CNBC, Investing.com