U.S. stocks rallied on Thursday, with the Dow industrials climbing more than 400 points for the first time in three years, as investors applauded the Federal Reserve's pledge that it would be patient in increasing interest rates.
The Dow Jones Industrials triumphed 421.48 points, or 2.4%, to close at 17,778.15, with Microsoft and International Business Machines leading blue-chip gains that included all 30 components.
The S&P 500 hiked 48.34 points, or 2.4%, to 2,061.23, with technology leading gains and all 10 of its major sectors rising.
The NASDAQ index tacked on 104.09 points, or 2.2%, to 4,748.40.
Oracle rallied after the software marker reported fiscal second-quarter profit and sales that exceeded estimates; Hertz Global Holdings jumped after investor Carl Icahn reported hiking his stake in the car-rental company.
Thursday data had jobless claims falling by 6,000 to 289,000 last week, the lowest since early November. Moreover, the Conference Board's index of leading indicators advanced in November for a third consecutive month, signaling the U.S. economy is picking up steam heading into the New Year.
Prices for 10-year U.S. Treasuries sagged, raising yields to 2.20% from Wednesday's 2.15%. Treasury prices and yields move in opposite directions.
Oil prices ditched $1.85 per barrel to $54.62 U.S.
Gold prices were positive $4.20 an ounce at $1,198.70 U.S.