Stocks rallied into the close on Wall Street, pushing the S&P 500 up 0.9%, as several companies reported better-than-expected results.
The Nasdaq composite led the market with a 1.5% gain Thursday, while the Dow Jones Industrial Average lagged with a gain of 0.3%.
Bond yields rose after a Federal Reserve official cautioned the end to its interest-rate hikes may not come as soon as markets had hoped. That cooled hopes that June could mark the first time in more than a year where the Fed doesn’t raise rates. Walmart rose after its results beat expectations.