Wall Street put the disappointment of the previous session’s post-Fed swoon behind it on signs the US labour market is improving.

By lunchtime in New York, the S&P 500 was up 14 points, or 1.3 per cent, with a good earnings report from Cisco Systems after the close on Wednesday also helping sentiment. The Dow Jones Industrial Average was up 1.6 per cent, again flirting with the 10,000 level.