U.S. STOCKS RALLIED ON THURSDAY, PROPELLING THE NASDAQ UP NEARLY 3 PERCENT, AS INVESTORS INTERPRETED THE FEDERAL RESERVE'S POLICY STATEMENT AS A SIGNAL THE CENTRAL BANK MAY PAUSE AFTER ITS LATEST INTEREST-RATE INCREASE. THE DOW SURGED ALMOST 2 PERCENT TO POST ITS BIGGEST ONE-DAY PERCENTAGE GAIN SINCE APRIL 2005. BASED ON THE LATEST AVAILABLE DATA, THE DOW JONES INDUSTRIAL AVERAGE SHOT UP 215.80 POINTS, OR 1.97 PERCENT, TO END UNOFFICIALLY AT 11,189.36. THE STANDARD & POOR'S 500 INDEX CLIMBED 26.77 POINTS, OR 2.15 PERCENT, TO FINISH UNOFFICIALLY AT 1,272.77. THE NASDAQ COMPOSITE INDEX SURGED 61.00 POINTS, OR 2.89 PERCENT, TO CLOSE UNOFFICIALLY AT 2,172.84.
