Stocks rose on Thursday as the countdown approached zero for a long-awaited speech regarding interest rates.

The S&P 500 rose 58.35 points, or 1.4%, to 4,199.12, its strongest day in over two weeks. Much of the gain came late in the day as traders made movements ahead of Federal Reserve Chair Jerome Powell‘s speech on Friday morning, which has long been circled on Wall Street‘s calendar.

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The Dow Jones Industrial Average increased by 322.55, or 1%, to 33,291.78, while the Nasdaq Composite increased by 207.74, or 1.7%, to 12,639.27. All three indices reduced their weekly losses, which were driven by Monday’s drop, which was the worst for equities in months. The Russell 2000 index of smaller companies rose 29.35 points, or 1.5%, to 1,964.64.

Treasury yields eased to let off some of the pressure on Wall Street following the release of several reports on the economy. Fewer workers applied for jobless claims last week than expected, an encouraging sign for a jobs market that has been the main pillar for an economy struggling under high inflation.

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A revised reading on the overall economy, meanwhile, suggested that its contraction during the spring wasn’t quite as bad as earlier thought. It shrank 0.6% on an annualized basis, according to the government’s second preliminary reading, milder than the 0.9% given in its initial estimate.

The 10-year Treasury yield, which affects mortgage rates, fell to 3.03% from 3.11% late Wednesday.

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Telehealth services providers were strong after Amazon shut down its in-house telemedicine service for employees. Teladoc gained 4%.

On the losing end were several companies that trimmed their financial forecasts for the year. Software company Salesforce fell 3.4%, and discount retailer Dollar Tree fell 10.2%.

Wall Street’s focus, though, remains on Jackson Hole, Wyoming, where economists from around the world are gathering for an annual symposium.

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It’s been the setting for market-defining announcements by the Federal Reserve in past years, and investors are hoping Powell will offer some clarity about where interest rates are heading.

The Fed has already raised rates four times this year in its efforts to halt high inflation, with most of them bigger than the usual hike, and investors want to hear how it’s leaning for future increases. Powell will begin speaking at 10 a.m. Eastern time Friday, a half hour after trading begins on Wall Street.