The Dow Jones Industrial Average closed positive year-to-date for the first time in 2016 on Thursday.
The index finished the trading session at 17,481.49. It surged about 12% from the low reached on February 11.
This comeback happened after US stocks had their worst start to a year ever as investors were concerned about everything from global economic growth to the Federal Reserve's interest rate hike.
Stocks spiked on Wednesday after the Fed decided to hold its benchmark rate steady and lower its forecast for hikes this year.
Much of the commentary out of Wall Street on Thursday morning said that the Fed was more willing to keep rates lower than markets had anticipated.
Apart from the expected rate hold, the Fed lowered its forecasts for inflation and growth.
The Fed's decision was still fresh on investors' minds in trading on Thursday, along with some strong economic data out in the morning.
Initial jobless claims rose 7,000 to 265,000 last week, but less than expected. The Philly Fed's manufacturing index surged to a nine-month high of 12.4, coming in positive for the first time in seven months.
And, the Job Openings and Labor Turnover Survey showed that openings leveled off a bit but stayed at a historically high level of 5.55 million in January.
