Stocks jumped on Wednesday as investors anxiously awaited potentially aggressive action from the Federal Reserve to tame surging inflation.
The Dow Jones Industrials popped 363.79 points, or 1.2%, to 30,726.28.
The S&P 500 crawled out of bear market territory, for the time being, at least, gaining 53.44 points, or 1.4%, to 3,788.92.
The NASDAQ Composite jumped 190.45 points, or 1.8%, to 11,021.27.
All major sectors aside from energy were in the green on Wednesday.
Communication services and consumer discretionary led the rally, gaining roughly 2% as technology stocks Tesla, Amazon, Meta Platforms and Alphabet rose. Shares of Boeing took 5%, Goldman Sachs hiked 2.5% and Salesforce jumped 2.6%, bringing the Dow higher.
Beaten-up travel names also staged a rebound, with cruise stocks Carnival and Norwegian Cruise Line rising about 3%. Shares of airline stocks including Delta and United also rose about 2% each.
Treasury prices jumped, lowering yields to 3.38% from Tuesday's 3.47%. Treasury prices and yields move in opposite directions.
Oil prices fell back 70 cents to $118.23 U.S. a barrel.
Gold prices jumped $12.40 to $1,825.90 U.S. an ounce.