News that Federal Reserve policymakers believed their string of interest rate hikes was likely nearing an end sent stocks soaring Tuesday, carrying the Dow Jones industrials up more than 140 points. The news helped offset the effects of oil prices that passed $71 a barrel.
In afternoon trading, the Dow Jones industrial average gained 143.84, or 1.3 percent, to 11,217.62. Broader stock indicators also advanced. The Standard & Poor’s 500 index rose 16.53, or 1.3 percent, to 1,301.86, and the Nasdaq composite index rose 33.70, or 1.5 percent, to 2,344.86.
