Stocks rose broadly for a second day in a row on Wall Street Thursday, reversing the market's losses for the week just three days after the S&P 500 had its biggest skid since May.

The S&P 500 added 1.2% and the Dow Jones Industrial Average rose 1.5%.

Investors were pleased to have gotten some clarity from the Federal Reserve a day earlier that it was not on the verge of raising interest rates, and there was also reassuring news out of China, where Evergrande, one of the country's biggest private real estate developers, appeared to avoid what could have been a messy default.