A pledge from the Federal Reserve to remain “patient” when deciding when to lift interest rates gave the stock market its biggest gain in more than a year.
The Dow Jones industrial average rose 288 points, or 1.7 per cent, to 17,356.87.
The Standard & Poor’s 500 index climbed 40.15 points, or 2 per cent, to 2,012.89.
The Nasdaq composite gained 96.48 points, or 2.1 per cent, to 4,644.31.
For the week:
The Dow is up 76.04 points, or 0.4 per cent.
The S&P 500 index is up 10.56 points, or 0.5 per cent.
The Nasdaq is down 9.29 points, or 0.2 per cent.
For the year:
The Dow is up 780.21 points, or 4.7 per cent.
The S&P 500 index is up 164.53 points, or 8.9 per cent.
The Nasdaq is up 467.72 points, or 11.2 per cent.