Stocks soared today on news that Federal Reserve policymakers believed their run of interest rate hikes is probably nearing an end, propelling the Dow Jones industrials up nearly 200 points.

Residents along the Texas and Louisiana coasts began clearing away debris today as crews worked to restore electricity to more than one million customers in four states after Hurricane Rita tore through the US Gulf Coast, causing less damage than feared.

Stocks made a strong move higher Monday as a new spate of merger activity and a surprising rise in home sales restored investors’ confidence in the economy and eased fears of inflation and higher interest rates.