Stocks closed higher on Wall Street, extending the market's winning streak to a fourth day.

The S&P 500 rose 1.4% Wednesday. Investors are hoping that the economy will continue to open up following the lockdowns put in place to stem the spread of the coronavirus.

Treasury yields also rose in a sign of improved confidence following a spate of economic reports that weren't as bad as expected. They touched on job losses at private employers, activity in the service sector and factory orders.

Banks and other stocks that would benefit most from a growing economy led the way.