Wall Street has enjoyed its biggest two-day gains in more than three years following this week's upbeat assessment of the U.S. economy by the Federal Reserve. The S&P 500 continued its rally from the previous session to close out its . biggest two-day advance since November 2011 with tech shares boosted by big gains for software giant Oracle Corp. The Dow industrials recorded the best one-day percentage . gain since December 2011. The S&P 500 posted its biggest daily . percentage gain since January 2013 and is up 4.5 percent in the . last two sessions. Scroll down for video . All smiles: Traders on the floor of the New York Stock Exchange can't hide their delight as Wall Street enjoyed its biggest two day gains in three years yesterday . On Wednesday the Federal Reserve posted a positive forecast for the U.S. economy and a commitment to take a 'patient' approach toward raising interest rates. The central bank's chair, Janet Yellen, also appeared to rule out an interest rate rise in the first quarter of the year. Adam Sarhan, chief executive of Sarhan Capital in New York, said: 'What happened this week was a game-changer. 'That easy money trade came to the forefront, and it's so powerful it wipes out all of these concerns that exist.' A three per cent jump in the technology sector also . helped Thursday's advance. Oracle Corp jumped 10.2 . per cent to $45.35, a day after quarterly results topped Wall . Street expectations. Shares of Apple . climbed three per cent to $112.65. The Dow Jones industrial average rose 421.28 points, . or 2.43 per cent, to 17,778.15, the S&P 500 gained 48.34 . points, or 2.4 per cent, to 2,061.23 and the Nasdaq Composite . added 104.08 points, or 2.24 per cent, to 4,748.40. U.S. crude fell 4.2 per cent, but the S&P Energy . sector ended up 2.1 per cent. The Dow Jones Industrial Average rose over 400 points after the Federal Reserve signaled that it would not raise interest rates . The S&P 500 had fallen nearly five per cent from its most recent . record high on December 5 before the strong gains on Wednesday and . Thursday. Earlier in the session, data showed weekly jobless claims . fell more than expected, suggesting the labor market continues . to strengthen. However, readings on the U.S. services sector and . mid-Atlantic factory activity indicated a slower pace of growth. Rite Aid shares surged 11.9 per cent to $6.78 after . the drugstore chain's quarterly results topped expectations and . it boosted its 2015 outlook. About 8.7 billion shares changed hands on U.S. exchanges, . above the 7.5 billion average this month, according to BATS . Global Markets. NYSE advancers outnumbered decliners 2,522 to 589, for a . 4.28-to-1 ratio; on the Nasdaq, 2,093 issues rose and 655 fell, . for a 3.20-to-1 ratio favoring advancers.
Dow Jones rises 2.43%, S&P 500   2.4% and Nasdaq Composite 2.24% .
Tech shares boosted by software firm Oracle Corp's big gains .
Follows Wednesday's positive announcement by the Federal Reserve .
Bank appears to have ruled out an interest rate rise in the first quarter .
Wall Street has enjoyed its biggest two-day gains in more than three years following this week's upbeat assessment of the U.S. economy by the Federal Reserve. The S&P 500 continued its rally from the previous session to close out its . biggest two-day advance since November 2011 with tech shares boosted by big gains for software giant Oracle Corp. The Dow industrials recorded the best one-day percentage . gain since December 2011. The S&P 500 posted its biggest daily . percentage gain since January 2013 and is up 4.5 percent in the . last two sessions. Scroll down for video . All smiles: Traders on the floor of the New York Stock Exchange can't hide their delight as Wall Street enjoyed its biggest two day gains in three years yesterday . On Wednesday the Federal Reserve posted a positive forecast for the U.S. economy and a commitment to take a 'patient' approach toward raising interest rates. The central bank's chair, Janet Yellen, also appeared to rule out an interest rate rise in the first quarter of the year. Adam Sarhan, chief executive of Sarhan Capital in New York, said: 'What happened this week was a game-changer. 'That easy money trade came to the forefront, and it's so powerful it wipes out all of these concerns that exist.' A three per cent jump in the technology sector also . helped Thursday's advance. Oracle Corp jumped 10.2 . per cent to $45.35, a day after quarterly results topped Wall . Street expectations. Shares of Apple . climbed three per cent to $112.65. The Dow Jones industrial average rose 421.28 points, . or 2.43 per cent, to 17,778.15, the S&P 500 gained 48.34 . points, or 2.4 per cent, to 2,061.23 and the Nasdaq Composite . added 104.08 points, or 2.24 per cent, to 4,748.40. U.S. crude fell 4.2 per cent, but the S&P Energy . sector ended up 2.1 per cent. The Dow Jones Industrial Average rose over 400 points after the Federal Reserve signaled that it would not raise interest rates . The S&P 500 had fallen nearly five per cent from its most recent . record high on December 5 before the strong gains on Wednesday and . Thursday. Earlier in the session, data showed weekly jobless claims . fell more than expected, suggesting the labor market continues . to strengthen. However, readings on the U.S. services sector and . mid-Atlantic factory activity indicated a slower pace of growth. Rite Aid shares surged 11.9 per cent to $6.78 after . the drugstore chain's quarterly results topped expectations and . it boosted its 2015 outlook. About 8.7 billion shares changed hands on U.S. exchanges, . above the 7.5 billion average this month, according to BATS . Global Markets. NYSE advancers outnumbered decliners 2,522 to 589, for a . 4.28-to-1 ratio; on the Nasdaq, 2,093 issues rose and 655 fell, . for a 3.20-to-1 ratio favoring advancers.
Federal Reserve. The S&P 500 continued its rally tech shares boosted by big gains for software the Federal Reserve posted a positive forecast appeared to rule out an interest rate rise in the three per cent to $112.65. The Dow Jones . points, or 2.4 per cent, to 2,061.23 and the Nasdaq Composite . added 104.08 points, or 2.24