The equivariant Gromov-Witten theory of P¹

We express all equivariant Gromov-Witten invariants of the projective line as matrix elements of explicit operators acting in the Fock space. As a consequence, we prove the equivariant theory is governed by the 2-Toda hierarchy of Ueno and Takasaki. This is the second in a sequence of three papers devoted to the Gromov-Witten theory of nonsingular target curves (the first paper of the series is math.AG/0204305).