S&P 500 leaps to highest close in 14 months

The S&P 500 climbed 1.22% to end the session at 4,425.84 points, the Nasdaq increased 1.15% to 13,782.82 points, while the Dow rose 1.26% to 34,408.06 points. — Reuters

BENGALURU: The S&P 500 and Nasdaq surged on Thursday to close at their highest in 14 months, as investors cheered economic data that fuelled bets that the US Federal Reserve is nearing the end of its aggressive interest-rate hike campaign.

Treasury yields slid after a slew of economic data pointed to easing inflation, helping offset worries about future rate hikes and boosting Apple and Microsoft to record highs.