As expected, Wall Street shares headed higher on Tuesday as traders appeared to welcome the Fed tone on interest rates, European indices rose and the oil price rose.
Yesterday, Janet Yellen had indicated that a rise this month (June) was not in the frame.
The S&P500 hit a seven month high, and is up 0.2%to 2,113, while the benchmark Dow Jones added 0.35% to 17,985.
The tech heavy Nasdaq added a tad- 0.02% to go to 4,969. The S&P midcap 400 gained 0.11% to 1,514. The S&P smallcap 600 added 0.07% to 7817.87.
It came as traders appeared to ignore US government data that showed productivity of businesses and workers fell in the first quarter.
In addition, new figures suggested wage inflation is ticking up, at odds seemingly with the Fed's stance on monetary policy and interest rates.
Benchmark US crude - West Texas Intermediate - was up 1% to US$50.18 a barrel in New York, and oil shares were in focus.
Giant Chevron (NYSE:CVX) rose 1.3% to US$102.53 a share, while Newfield Exploration added 3% to US$41.16.
A big loser was troubled drugs firm Valeant Pharmaceuticals Intl Inc (NYSE:VRX), which plunged around 20% after first quarter results disappointed.
Valeant, which is already under scrutiny, also cut its guidance for the full year. The drug company now expects between US$9.9bn and U$10.1bn of revenue in 2016, down from US$11bn to US$11.2bn.
Full year earnings are now forecast by the company at US$6.60 to US$7.00 per share, down from US$8.50 to US$9.50.