Wall Street closed higher Thursday as technology stocks enjoyed big gains.

The Dow reached as high as 21,265 points during the day -- it highest level ever-before the index lost most of its gains at the close at 21,182.

The S&P was flat -- finishing at 2,433.

The Nasdaq increased 24 points to close at a record high of 6,321.

Shares of Alibaba jumped 13 percent after the Chinese e-commerce giant said it estimates revenue for its current fiscal year to increase faster than analysts expect.

Yahoo rose 10 percent after shareholders approved the $4.5 billion sale to Verizon.