NEW YORK (REUTERS) - US stocks rose 1 per cent on Wednesday, advancing for a third straight session as Federal Reserve Chair Janet Yellen reaffirmed the central bank's commitment to keeping interest rates low.
Yahoo's shares rallied, giving a boost to the S&P 500.
The Dow Jones industrial average shot up 162.29 points, or 1.00 per cent, to end unofficially at 16,424.85. The Standard & Poor's 500 Index gained 19.33 points, or 1.05 per cent, to finish unofficially at 1,862.31. The Nasdaq Composite Index jumped 52.06 points, or 1.29 per cent, to close unofficially at 4,086.23.