U.S. stocks rally as members of the Federal Reserve gave signs from their April meeting that they will not raise interest rates anytime soon.
The Dow Jones Industrial Average rallied 158.75 points, or 1%, to 16533.06. The S&P 500 index climbed 15.20 points, or 0.8%, to 1888.03 and the Nasdaq Composite Index added 34.65 points, or 0.8%, to 4131.54.
The central bank pared its monthly asset buying to $45 billion in April, its fourth straight $10 billion cut.
All 10 main industries in the S&P 500 rose today, with consumer-discretionary and energy companies gaining at least 1 percent for the biggest advances.
Oil for July delivery topped $104 a barrel on Wednesday to settle at their highest level in a month after a U.S. government report showed a drop in weekly crude inventories that was much bigger than the market expected.
Gold for June delivery lower on Wednesday, fell to settle at $1,288.10 a troy ounce. at their lowest close in early two weeks, as a climb in U.S. equities lured investors away from the precious metal.