The Dow Jones Industrial Average on Thursday rallied more than 400 points and the S&P 500 touched a fresh 13-month high, as investors bet the Federal Reserve was close to done raising rates after the central bank this week skipped a hike.
The 30-stock Dow added 428.73 points, or 1.26%, to close at 34,408.06. The S&P 500 climbed 1.22% to finish the session at 4,425.84, while the Nasdaq Composite gained 1.15% to close at 13,782.82. Bond yields were lower, while tech stocks continued to lead the market upswing — in line with the trend on Wall Street in 2023.
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