US stocks close higher; Dow Jones gains more than 600 pts

US stocks rose for a second straight session at the close of Thursday’s trading, as Treasury yields declined amid growing investor expectations that the Federal Reserve will leave interest rates unchanged this month.

At the close, the Dow Jones Industrial Average rose 1.18%, or 624 points, to 53,686.

The broader S&P 500 gained 1%, or 81 points, to 7,747, while the Nasdaq Composite rose 1.40%, or 366 points, to 26,584.

In Europe, the STOXX Europe 600 rose 0.49% to 649, ending a three-session losing streak.

The UK’s FTSE 100 gained 0.70% to 10,831, Germany’s DAX rose 0.63% to 26,003, and France’s CAC 40 edged up 0.10% to 8,286.

In Japan, the Nikkei 225 fell 0.17% to 64,214, while the broader TOPIX rose 0.50% to 4,102.

In oil, Brent crude futures for November delivery fell 0.12%, or 11 cents, to $95.52 a barrel.

Meanwhile, NYMEX crude futures for October delivery rose 0.32%, or 29 cents, to $91.30 a barrel.

Gold futures for December delivery rose 2.84%, or $125.30, to $4,539.90 an ounce.

What’s Behind the Market Moves?

The decline in US Treasury yields, alongside reduced expectations for a rate hike, supported risk appetite among investors. However, oil price volatility kept inflation concerns alive, leaving the interest-rate outlook dependent on upcoming jobs and inflation data.