The Dow Jones closed higher by around 522 points to 42,025.19 on Thursday. The S&P 500 surged 1.70% to 5,713.64, while the Nasdaq Composite climbed 2.51% at 18,013.98 during Thursday's session.
The European Central Bank on Thursday announced it would cut key interest rates again, marking its second rate reduction this year following a move in June, with no indication of the future rate path.