Stocks closed at their highest level of the year Tuesday as investors welcomed the latest signal from the Federal Reserve that it will move slowly to raise interest rates, the Associated Press reports. The Dow gained 97.72 points (0.56%) to finish at 17,633.11, the NASDAQ closed 79.84 points (1.67%) higher at 4,846.62, and the S&P 500 was up 17.96 points (0.88%) at 2,055.01. The Russell 2000 increased 28.89 points (2.67%) to 1,109.11, and the Wilshire 5000 climbed 216.42 points (1.045) to 21,050.24.

On the NYSE, 3.2 billion shares traded, with advancing issues outnumbering declining issues 4 to 1. On the NASDAQ, 2.7 billion shares changed hands, with a near 3 to 1 lead for advancers.

ON THIS DATE: In 1822, Florida became a U.S. territory. In 1842, Dr. Crawford W. Long performed the first operation while his patient was anesthetized by ether. In 1858, Hyman L. Lipman of Philadelphia patented the pencil. In 1867, the U.S. purchased Alaska from Russia for $7.2 million dollars. In 1870, the 15th amendment, guaranteeing the right to vote regardless of race, was passed by the U.S. Congress. In 1870, Texas was readmitted to the Union. In 1909, the Queensboro bridge in New York City opened linking Manhattan and Queens. It was the first double decker bridge. In 1964, “Jeopardy” debuted on NBC-TV. In 1981, U.S. President Ronald Reagan was shot and wounded in Washington, D.C., by John W. Hinckley Jr. Two police officers and Press Secretary James Brady were also wounded. In 1998, Rolls-Royce was purchased by BMW in a $570 million deal.