Abu dhabi: US stock indices closed higher on Thursday, bolstered by a decline in investor expectations regarding interest rate hikes. The positive movement was witnessed across major indices, signaling a favorable turn for the stock market.

According to Emirates News Agency, the S and P 500 index rose by 1.07%, or 81.67 points, to reach 7,748.27 points. This increase reflects a growing confidence among investors as concerns about potential rate hikes ease. Similarly, the Nasdaq Composite index climbed 1.40%, or 366.39 points, to hit 26,584.21 points, indicating a strong performance in the technology sector.

The Dow Jones Industrial Average also saw an increase, rising by 1.18%, or 627.37 points, to reach 53,689.32 points. This upward trend across the board suggests a positive outlook for US stocks, driven by adjusted market expectations regarding monetary policy.