November 02, 2023 - 2:18 PM
NEW YORK (AP) — Wall Street roared higher, adding to its rally from the day before on hopes the Federal Reserve may finally be done with its market-rattling hikes to interest rates. The S&P 500 jumped 1.9% Thursday. The Dow added 564 points, and the Nasdaq composite climbed 1.8%. Stocks around the world leaped after the Federal Reserve late Wednesday hinted that a recent jump in Treasury yields may be acting like a rate-hike substitute.