: Dow gains 383 points, ends at highest level in two months

U.S. stocks closed sharply higher on Thursday, with the Dow finishing at its highest level in about two months, a day before a flurry of banks are due to report quarterly earnings. The Dow Jones Industrial Average DJIA rose about 383 points, or 1.1%, ending near 34,030, its highest close since Feb. 14, according to FactSet data. The S&P 500 index SPX jumped 1.3% and the Nasdaq Composite Index finished up 2%. There were more signs of easing inflation pressures on Thursday, reinforcing the downward trend seen earlier in the week with a cooling consumer-price index for March. Investors have been hoping the Federal Reserve might be drawing closer to ending its rapid rate-hiking cycle. To help gauge the impact of higher rates, on deck for Friday are quarterly results from big banks JPMorgan Chase JPM , Wells Fargo WFC , Citigroup C and from BlackRock, BLK the world’s largest asset manager.

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