NEW YORK, June 27 (Reuters) - U.S. stocks rose 1 percent on
Thursday, rallying in a volatile session in the wake of comments
from William Dudley, head of the New York Federal Reserve.
Dudley said the Fed's asset purchases would be more
aggressive than the timeline Chairman Ben Bernanke outlined last
week if U.S. economic growth and the labor market turn out
weaker than expected.
Equities initially pared their gains after the comments
before climbing again.
The Dow Jones industrial average was up 157.15
points, or 1.05 percent, at 15,067.29. The Standard & Poor's 500
Index was up 16.34 points, or 1.02 percent, at 1,619.60.
The Nasdaq Composite Index was up 35.84 points, or 1.06
percent, at 3,412.07.