Wall St rises in choppy trade after Fed boost; Dow up 150 pts

Big banks mixed after rallying sharply; Ralph Lauren gains on JPMorgan upgrade to 'overweight'

US stocks extended their gains on Thursday following a rally in the previous session as investors assessed the path laid out by the Federal Reserve for interest rate hikes, while closely tracking the Russia-Ukraine peace talks.

Technology fell the most after advancing on Wednesday. The banks index tumbled 1.2%, weighed down by a 2.2% fall in Wells Fargo. The U.S. Treasury yield curve rebounded, after earlier reaching its flattest level in more than two years.

The U.S. central bank on Wednesday raised interest rates by 25 basis points as expected and forecast an aggressive plan to push borrowing costs to restrictive levels