Stocks gained Thursday as Treasury yields fell, with investors betting the Federal Reserve could be done raising rates for 2023.
The Dow Jones Industrials vaulted 365.13 points, or 1.1%, to 33,639.71. The Dow is up more than 580 points in two days.
The S&P 500 index progressed 60.54 points, or 1.4%, to 4,298.40. The S&P 500 and Dow are on track for their biggest weekly gain of the year.
The NASDAQ surged 173.46 points, or 1.3%, to 13,234.92.
The rally was broad-based, with all 11 S&P 500 sectors trading in positive territory. Gains were led by real estate, consumer discretionary and materials, each up by more than 1%.
Thursday's gains put the S&P 500 and Dow on track for their biggest weekly gain of the year.
Tesla and Nvidia led a gain in tech shares Thursday as investors cheered the drop on rates. Apple added almost 2% ahead of its earnings report after the bell.
Prices for the 10-year Treasury jumped, lowering yields to 4.68% from Wednesday's 4.76%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.48 to $81.92 U.S. a barrel.
Gold prices recouped $1.50 to $1,989.