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U.S. stocks closed sharply higher Thursday, giving the Dow Jones industrials their biggest gain since March and putting them past 24,000 points for the first time.

The Standard & Poor’s 500 index also finished at a record high, notching its biggest monthly gain since February.

Technology stocks were responsible for much of the gain, following a sharp pullback the day before, as investors welcomed signs that the odds were improving for the Republican-led effort to forge a sweeping tax overhaul bill.

On Thursday:

The S&P 500 index climbed 21.51 points, or 0.8 percent, to 2,647.58.

The Dow jumped 331.67 points, or 1.4 percent, to 24,272.35.

The Nasdaq composite added 49.58 points, or 0.7 percent, to 6,873.97.

The Russell 2000 index of smaller-company stocks picked up 1.84 points, or 0.1 percent, to 1,544.14.

For the week:

The S&P 500 rose 45.16 points, or 1.7 percent.

The Dow added 714.36 points, or 3 percent.

The Nasdaq fell 15.19 points, or 0.2 percent.

The Russell 2000 gained 24.98 points, or 1.6 percent.

For the year:

The S&P 500 is up 408.75 points, or 18.3 percent.

The Dow is up 4,509.75 points, or 22.8 percent.

The Nasdaq is up 1,490.86 points, or 27.7 percent.

The Russell 2000 is up 187.01 points, or 13.8 percent.