Stocks closed broadly higher on Wall Street after shaking off a wobbly start.

Banks helped lead the gains as bond yields rose, which will allow banks to charge higher rates on mortgages and other loans. The S&P 500 added 1.1% Wednesday and the Dow Jones Industrial Average rose 1.4% to another all-time high.

Small-company stocks continued to outpace the rest of the market, as they have done since the beginning of the year. The yield on the 10-year Treasury note rose to its highest level in over a year.

On Wednesday:

The S&P 500 rose 44.06 points, or 1.1%, to 3,925.43.

The Dow Jones Industrial Average rose 424.51 points, or 1.4%, to 31,961.86.

The Nasdaq rose 132.77 points, or 1%, to 13,597.97.

The Russell 2000 index of smaller companies rose 53.07 points, or 2.4%, to 2,284.38.

For the week:

The S&P 500 is up 18.72 points, or 0.5%.

The Dow is up 467.54 points, or 1.5%.

The Nasdaq is down 276.50 points, or 2%.

The Russell 2000 is up 17.69 points, or 0.8%.

For the year:

The S&P 500 is up 169.36 points, or 4.5%.

The Dow is up 1,355.38 points, or 4.4%.

The Nasdaq is up 709.68 points, or 5.5%.

The Russell 2000 is up 309.53 points, or 15.7%.