On Thursday, Wall Street reconvened with investor growing optimistic that the worst of the turmoil may be over.

At 2:36 p.m., the Dow Jones industrial average was up 1.54 percent at to 16,536.11 and the S&P 500 was 1.72 percent higher at 1,973.91. The Nasdaq Composite added 1.72 percent to 4,778.28, according to Reuters.

Throughout the afternoon, the three major indexes calmed for its biggest two-day gain since 2009, but they were down from earlier gains of 2 percent. According to data collected, the U.S. economy grew 3.7 percent in its second quarter which was much higher than the 2.3 percent that was expected.

New York Fed President, William Dudley, said that the case for a September hike was much “less compelling” following the stock market plunge that was ignited by fears of slowing growth in China. On Wednesday, the 6-day losing streak ended.

“The worst is probably behind us but it’s going to take a while before we get back to normal and we might still see some downward risk,” said Scott Brown, chief economist at Raymond James in St. Petersburg, Florida.

Most traders stayed with the idea of the 25 percent chance that the Fed would increase interest rates in September, even after the economic growth number. But so far, the Fed interest rates being at close to zero is heling to fuel the stock market up to historic levels after the drop.

But, there are still fears of an eventual hike by investors.

“The era of easy money would officially be over,” Bianco said. “A rate hike would mean putting the needle away, no more drugs, time for the methadone.”

Investors are keeping their ears and eyes open, paying close attention to the annual conference of some of the world’s top central bankers in Jackson Hole, Wyoming this week in order to gauge what might happen to interest rates.