US STOCKS-Wall St rallies as fears of imminent rate hike fade

miércoles 30 de marzo de 2016 11:20 GYT

* Apple boosts all three major indexes

* ADP payrolls data better than expected in March

* Indexes up: Dow 0.82 pct, S&P 0.79 pct, Nasdaq 0.96 pct (Adds details, changes comment, updates prices)

By Yashaswini Swamynathan and Abhiram Nandakumar

March 30 (Reuters) - The S&P 500 and the Dow rose on Wednesday to their highest this year as investors took comfort from Federal Reserve Chair Janet Yellen's comments that the central bank should tread cautiously on raising rates this year.

Technology stocks led the rally, with Apple's 2 percent rise giving the biggest boost to the three major indexes.

Yellen, in her first remarks since the Fed held steady on rates earlier this month, said inflation in the United States had not yet reached sustainable levels amid uncertainty about China's economy and low oil prices.

Yellen's stance contrasts with recent comments from other policymakers who have voiced support for more than one increase this year.

Markets around the world cheered Yellen's remarks, which suggested that a rate hike was not immediately on the horizon. The dollar fell more than a percent, while bond prices rallied.   Continuación...