Wall Street staged a broad-based rally, with the S&P 500 notching the biggest gain yet in its recent winning streak.
The benchmark index rose 1.2 percent Thursday. The Dow was up 428 points, and the Nasdaq gained 1.1 percent.
Treasury yields fell after mixed reports on retail sales, manufacturing and unemployment claims raised hopes the Federal Reserve may end up hiking interest rates only once more this year. The Fed signaled a day earlier that it may raise them twice this year. The S&P 500’s gain was its sixth straight, its longest winning streak since 2021. Oil gained more than 3 percent.
On Thursday:
The S&P 500 rose 53.25 points, or 1.2 percent, to 4,425.84.
The Dow Jones Industrial Average rose 428.73 points, or 1.3 percent, to 34,408.06.
The Nasdaq composite rose 156.34 points, or 1.1 percent to 13,782.82.
The Russell 2000 index of smaller companies rose 15.18 points, or 0.8 percent, to 1,889.28.
For the week:
The S&P 500 is up 126.98 points, or 3 percent.
The Dow is up 531.28 points, or 1.6 percent.
The Nasdaq is up 523.68 points, or 3.9 percent.
The Russell 2000 is up 23.58 points, or 1.3 percent.
For the year:
The S&P 500 is up 586.34 points, or 15.3 percent.
The Dow is up 1,260.81 points, or 3.8 percent.
The Nasdaq is up 3,316.34 points, or 31.7 percent.
The Russell 2000 is up 128.04 points, or 7.3 percent.
