Reassurances from Fed on interest rates send stocks higher

Financial Markets Wall Street

NEW YORK (AP) — Stocks closed at their highest level of the year as investors welcomed the latest signal from the Federal Reserve that it would move slowly to raise interest rates.

The market shook off an early loss Tuesday and moved higher after Federal Reserve Chair Janet Yellen said the central bank remains cautious about raising rates.

Technology companies rose more than the rest of the market, led by big gains in Apple and Microsoft.

It was the biggest gain for U.S. stocks in more than two weeks.

The Dow Jones industrial average climbed 97 points, or 0.6 percent, to 17,633.

The Standard & Poor’s 500 index added 18 points, or 0.9 percent, to 2,055. The Nasdaq composite rose 80 points, or 1.7 percent, to 4,846. provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Users who violate these terms, including use of vulgar language or racial slurs, will be banned. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

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