Wall Street ends higher on rising rate-cut hopes

The Dow rose 404.41 points, or 0.94%, to 43,386.84, the S&P 500 gained 48.86 points, or 0.80%, to 6,141.02 and the Nasdaq gained 194.36 points, or 0.97%, to 20,167.91.

NEW YORK: Wall Street closed higher on Thursday, nudging the S&P 500 and the Nasdaq nearer to record closing highs as the Israel-Iran ceasefire continued to hold and a raft of economic indicators appeared to support the case for the US Federal Reserve lowering borrowing costs this year.

All three major US stock indices advanced in a broad rally which placed them on track for weekly gains.