U.S. stocks added slightly to the previous session's rally on Thursday as investors considered the path laid out by the Federal Reserve for interest rate hikes, while closely tracking Russia-Ukraine peace talks.

Energy was the biggest percentage gainer as oil prices climbed back to about $100 again while technology .SPLRCT was the weakest of the 11 major S&P 500 sectors after advancing sharply on Wednesday.

The U.S. central bank on Wednesday raised interest rates by a quarter of a percentage point as expected and forecast an aggressive plan to push borrowing costs to restrictive levels next year. Policymakers also trimmed their economic growth projections for the year.

Russian and Ukrainian officials met again on Thursday for peace talks, but said their positions were far apart.

Meanwhile, rescue workers dug survivors from the rubble of a theatre in the besieged city of Mariupol which Ukraine said was hit by a Russian air strike. Russia denied striking the theatre or targeting civilians. Its forces have blasted cities, killing many civilians, in its assault on Ukraine, as it enters the fourth week of what it calls a "special operation."

Phil Blancato, CEO of Ladenburg Thalmann Asset Management in New York saw the Fed's rate hike plan as dovish and along with peace talks, presented catalysts for investors seeking bargains in equities.

"What you're seeing today simply as a spillover effect from yesterday," said Blancato. "There's a potential resolution for the conflict overseas, the positive effects of the Federal Reserve and stocks at a very fair entry point, providing an opportunity to add risk."

By 2:34PM ET, the Dow Jones Industrial Average .DJI rose 245.07 points, or 0.72%, to 34,308.17, the S&P 500 .SPX gained 34.22 points, or 0.79%, to 4,392.08 and the Nasdaq Composite .IXIC added 116.59 points, or 0.87%, to 13,553.15.

The banks index .SPXBK pared losses and was last down 0.2% after falling 2% earlier in the session and rallying 3.7% on Wednesday. The U.S. Treasury yield curve rebounded, after earlier reaching its flattest level in more than two years. US/

U.S. crude oil prices climbed about 7% as the market rebounded from several days of losses on renewed focus on supply shortages in coming weeks due to sanctions on Russia. O/R

This pushed up the energy sector 3%. The next biggest gainers were materials .SPLRCM, up 1.5% and consumer discretionary .SPLRCD, which was rising 1.3%.

The CBOE volatility index .VIX, also known as Wall Street's fear gauge, was down after earlier hitting its lowest level since Feb. 17.

Earlier on Thursday, data showed weekly jobless claims fell last week as demand for labor remained strong, positioning the economy for another month of solid job gains.

Ralph Lauren Corp RL.N gained 4% after J.P. Morgan upgraded the affordable luxury apparel maker's stock to "overweight" from "neutral".

Advancing issues outnumbered declining ones on the NYSE by a 3.68-to-1 ratio; on Nasdaq, a 2.76-to-1 ratio favored advancers.

The S&P 500 posted 15 new 52-week highs and no new lows; the Nasdaq Composite recorded 40 new highs and 47 new lows.