Nasdaq Closes at Record High Thursday

(AP) -- U.S. stocks notched their biggest gains in a week, pushing the Nasdaq composite index to an all-time high.

The Dow Jones industrial average climbed 180 points, or 1 percent, to 18,115 on Thursday.

The Standard & Poor's 500 index rose 20 points, or 1 percent, to 2,121.

The Nasdaq composite gained 68 points, or 1.3 percent, to 5,132. That surpassed a previous record close say May 27.

The rally came a day after the Federal Reserve said that it needed to see more improvement in the economy before raising its benchmark interest rate. Low rates have supported a six-year rally in stocks.

Bonds edged lower, pushing the yield on the benchmark 10-year Treasury note up to 2.33 percent from 2.32 percent late Wednesday.