Nasdaq posts best daily gain since Nov., S&P 500 closes up 1.5%

The Nasdaq posted its best day of gains since November on Thursday, as stock-market bulls cheered the Federal Reserve’s decision a day before to raise interest rates by a smaller 25 basis point increment and embraced hints that a pause in rate hikes could be coming in a few months. The S&P 500 index
SPX,
+1.47%
rose about 1.5%, while the Nasdaq Composite Index
COMP,
+3.25%
jumped 3.3%, its best daily percentage gain since Nov. 30, according to Dow Jones Market Index. Both stock-market gauges surged in the final moments of trade. On the flip side, the Dow Jones Industrial Average
DJIA,
-0.11%
shed about 39 points, or 0.1%, ending near 34,053, after posting back-to-back gains this week.