Wall St rallies as Powell cements peak rate bets

At 2.14pm ET, the Dow rose 258.01 points, or 0.72%, to 36,208.9, the S&P 500 gained 21.94 points, or 0.48%, at 4,589.74 and the Nasdaq added 51.37 points, or 0.36%, at 14,277.59.

NEW YORK: US stocks advanced on Friday, starting December with a broad rally as remarks from Federal Reserve chairman Jerome Powell bolstered the view that interest rates have peaked.

All three major US stock indices were higher, with economically sensitive transports and smallcaps enjoying the most robust gains.