US stocks rose solidly yesterday behind higher oil prices and speculation that the Federal Reserve will conclude a meeting today with a dovish statement on future interest rate increases. The Dow Jones Industrial Average rose 282.01 points or 1.78 per cent to 16,167.23. The broad-based S&P 500 gained 26.55 points or 1.41 per cent at 1,903.63, while the tech-rich Nasdaq Composite Index advanced 49.18 points or 1.09 per cent to 4,567.67. The gains came as US oil prices rose 3.7 per cent to 31.45 dollars a barrel. Analysts said strong earnings by 3M and other Dow members also lifted sentiment. Market watchers also expect the Fed to signal today, after a two day meeting, a go slow approach to future rate hikes after lifting benchmark interest rates in December for the first time in more than nine years.