NEW YORK—Stocks rose Thursday to send Wall Street to its highest level in nearly eight weeks following reports suggesting the economy and corporate profits may be doing better than feared.
The S&P 500 climbed 1.1 percent to clinch its highest finish since Dec. 2. The Dow Jones Industrial Average gained 205 points, or 0.6 percent, while the Nasdaq composite rallied 1.8 percent.
More swings may still be ahead, as Wall Street digests a growing torrent of earnings and economic reports. Markets have veered up and down recently as worries about a severe recession and drop-off in profits battle against hopes the economy can manage a soft landing and the Federal Reserve may ease up on interest rates….