NEW: Wall Street closes higher, pushing S&P 500 past 4,000 points

Coronavirus fears have impacted stock market and interest rates

Stocks are closing broadly higher Thursday on Wall Street, pushing the S&P 500 past 4,000 points for the first time. Big Tech companies such as Microsoft led the gains. The benchmark index climbed 1.2%.

Smaller companies continued to outpace the S&P 500. The tech-heavy Nasdaq added 1.8%. Companies that would benefit from greater sales of electric vehicles rose after President Joe Biden outlined various measures to support their use as part of his massive infrastructure plan.

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Stock trading will be closed for Good Friday but bond trading will be open for half a day, closing at noon ET.

Technology stocks were benefiting from another drop in bond yields, which have been the driving force for the market for several weeks. The yield on the 10-year U.S. Treasury note fell to 1.68% from 1.73% the day before. Higher bond yields make stocks seem more expensive by comparison, and tech stocks are among the most expensive after their significant rise last year.

Electric vehicle charger operators ChargePoint and Blink Charging were up 6.5% and 3.3%, respectively. Both companies were benefiting from news in Washington, where Biden outlined various measures to support their use as part of his massive infrastructure plan. Part of that plan includes installation of thousands of additional charging stations around the country to make electric car usage more accessible.

Investors also continue to monitor news about how well the U.S. economy is recovering from the coronavirus pandemic, now that millions of vaccines are being administered daily to Americans as well as around the world.

Consumer sentiment has been improving along with construction spending and other measures. The improving economy is prompting investors to shift more money into companies and sectors that will benefit from people getting back to some semblance of a pre-pandemic normal.

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