Stocks rose broadly Thursday, gaining for a second day after Federal Reserve Chair Jerome Powell signaled that the central bank may be done lifting interest rates for now.
The S&P 500 rose 1.9% in its biggest gain since April. The Dow Jones Industrial Average added more than 560 points, or 1.7%, while the Nasdaq Composite was 1.8% higher.
All 11 S&P 500 sectors closed higher, with energy, utilities and consumer-discretionary shares among the top advancers. The rate-sensitive real-estate sector led the way, rising 3.1%. Mortgage rates fell slightly this week, dropping for the first time in nearly two months.
Read the full story here.