Economics
U.S. Stocks Rally Most in 2014 as Fed Bets Spur Rebound
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The Federal Reserve’s hint that interest rates will stay near zero sent investors rushing back to the stock market, igniting the biggest rally this year for the Standard & Poor’s 500 Index.
The S&P 500 surged 1.7 percent to 1,968.89 at 4 p.m. in New York. From trough to peak, the index moved 45 points today, the most since February, data compiled by Bloomberg show. The rally recouped yesterday’s slump, when the benchmark gauge sank 1.5 percent amid concern over global growth and weaker economic data from Germany. The Dow Jones Industrial Average climbed 274.83 points, or 1.6 percent, to 16,994.22 today, the most since Dec.