Strong earnings from technology companies including Intel Corporation sent stocks sharply higher on Wall Street.
The Dow Jones industrial average closed at its highest level in nearly three years.
The Dow jumped 187 points, or 1.5%, to close at 12,454 – the highest closing price since June 5 2008.
Intel made the Dow’s biggest gains, rising 7.8%. The chip-maker’s income rose 29% in the first quarter with rising demand for personal computers.
The Nasdaq rose 57, or 2%, to 2,803.
The broader Standard & Poor’s 500 index rose 18, or 1.4%, to 1,330.
Other prominent companies including Freeport-McMoRan Copper&Gold Inc also reported stronger earnings.
Nearly five shares rose for every one that fell on the New York Stock Exchange. Trading volume was 4.3 billion shares.
