New York - Technology stocks led a huge Wall Street rally on Thursday with a 2.8 per cent gain, followed by well-over-1-per-cent upswings for the other two leading indices.

Stocks closed at the highest levels since January, helped by financial firms like Bank of America Corp, JPMorgan Chase & Co and Citigroup Inc which enjoyed a rare bit of good news with a rebounding dollar.

The dollar was boosted by speculation that the US central bank was done cutting interest rates after the Federal Reserve on Wednesday lowered the benchmark rate another 0.25 per cent to 2 per cent.

The blue-chip Dow Jones Industrial Average rose 189.87 points or 1.48 per cent to 13,010. The broader Standard & Poor 500 Index rose 23.75 points or 1.71 per cent to 1,409.34. The technology- heavy Nasdaq Composite Index added 67.91 points or 2.81 per cent, to 2,480.71.

The dollar rose to 64.63 euro cents from 64.00 euro cents on Wednesday, and to 104.42 Japanese yen from 103.89 yen.

Gold fell another 14.20 dollars to 850.90 dollars per fine ounce. (dpa)