A relief rally carried Wall Street sharply higher Thursday after the Federal Reserve appeared to soften its stance on future interest rate hikes, saying it would consider both the economy’s health and inflation as it formulates its policy. The Dow Jones industrial average rose more than 215 points, its biggest one-day point gain in more than three years.

According to preliminary calculations, the Dow surged 217.24, or 1.98 percent, to 11,190.80, its biggest single-day jump since March 21, 2003, when it added 235.37 points, the Associated Press reports. The Dow was up about 80 points before the Fed’s announcement. Broader stock indicators also saw their best sessions in years. The Standard & Poor’s 500 index climbed 26.87, or 2.16 percent, to 1,272.87, its largest gain since rising 29.52 on March 14, 2003; the Nasdaq composite index jumped 62.54, or 2.96 percent, to 2,174.38, behind a 73.13-point advance on July 27, 2002.

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Hot Topic Inc., which was upgraded to “buy” from “neutral” by analyst Mitchel J. Kummetz at D.A. Davidson & Co. with a price target of $14, rose 5 percent to $11.49.

THQ Inc., which announced it will be added to the Nasdaq Global Select Market effective July 3, gained 3.3 percent to $21.98.

Herbalife Intl. Corp., which had its corporate credit rating raised to “BB+” from “BB” by Standard & Poor’s Rating Services, rose 3 percent to $39.05.

LJ International Inc., which was rated a “buy” in new coverage by Albert S. Lee at Maxim Group LLC with a price target of $7, rose 2 percent to $3.75.

Image Entertainment Inc., which was cut to “neutral” from “buy” by analyst Ali Mogharabi at B. Riley & Co., fell 4 percent to $3.50.