The Dow Jones Industrial Average closed fractionally higher on Thursday, stretching its winning streak to five sessions despite light trading volumes and rising U.S. Treasury yields weighing on some of the dominant technology megacaps.

U.S. stocks on Thursday overcame a lower open to turn positive, though momentum remained weak as Wall Street's attempt to continue a Santa Claus rally came under pressure, after the best Christmas Eve session since 1974.

Yields on U.S. government bonds inched higher across the board, with the yield on the benchmark 10-year Treasury note hitting its highest since early May at 4.64% earlier in the session. By mid-afternoon,