The U.S. market ended Thursday’s trading session higher as investors were able to halt two days of declines by ignoring pessimistic news from Microsoft and another view of a sharp Fed rate hike, Business Insider writes.

Microsoft revised downward its fourth-quarter revenue and earnings forecasts due to unfavorable currency fluctuations, and Fed Vice Chair Lael Brainard didn’t see fit to pause the interest rate hike. Microsoft shares eventually recovered from the losses.

In Brainard’s opinion,

“It’s very hard to see a reason for a pause right now. We still have a lot of work to do to bring inflation down to our 2% target.”

The Nasdaq Composite rose to 12,316.90 points, or 2.69%, the strongest performance among major stock indexes on Wall Street, with Nvidia, PayPal and Okta leading the gains. That said, the Nasdaq Composite remains in bear market territory due to higher borrowing rates, affecting potential earnings for tech companies.

All sectors in the S&P 500 rose except energy. Overall, the S&P 500 rose to 4,176.84 points for the session, a gain of 1.84%.

The Dow Jones Industrial Average reached 33,248.61 points, which is a 1.33% increase.

West Texas Intermediate crude oil prices rose 1.3% to $116.78 per barrel. And Brent crude oil prices rose 0.3% to $117.96.