Dow Soars 624 Points Amid Easing Inflation Concerns

US stocks bounced higher on Thursday as bond yields eased and the dollar dived. The Dow Jones Industrial Average surged 623.98 points to close at 53,685.93, a gain of 1.18 percent.

The Standard & Poor's 500 climbed 81.01 points to finish at 7,747.61, an increase of 1.06 percent.

Market analysts attributed the widespread gains to easing inflation concerns, stronger-than-expected services sector data, and renewed optimism that the Federal Reserve may be nearing the end of its tightening cycle.