The Dow Jones Industrials vaulted 564.50 points, or 1.7%, to 33,839.08.
The S&P 500 index progressed 79.92 points, or 1.9%, to 4,317.78. The S&P 500 and Dow are on track for their biggest weekly gain of the year, putting the broad market index on pace for its best day since May.
The NASDAQ surged 232.72 points, or 1.8%, to 13,294.19.
The rally was broad-based, with all 11 S&P 500 sectors trading in positive territory. Gains were led by real estate, consumer discretionary and materials, each up by more than 1%.
Thursday’s gains put the S&P 500 and Dow on track for their biggest weekly gain of the year.
Tesla and Nvidia led a gain in tech shares Thursday as investors cheered the drop on rates. Apple added almost 2% ahead of its earnings report after the bell.
Prices for the 10-year Treasury jumped, lowering yields to 4.67% from Wednesday’s 4.76%. Treasury prices and yields move in opposite directions.
Oil prices regained $1.97 to $82.41 U.S. a barrel.
Gold prices recouped $4.40 to $1,991.90.