US stocks climbed on Thursday after the Federal Reserve unveiled a new framework that could keep interest rates lower for a longer period of time, CNBC reports. The Dow Jones Industrial Average gained 250 points, or 0.9 percent. Those gains erased the 30-stock average’s losses for 2020. Bank stocks rose broadly. The benchmark 10-year rate climbed to 0.72% and the 30-year bond yield advanced to 1.46 percent.

Source: The Standard August 27, 2020 14:03 UTC