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New York - Beaten-down technology and banking shares jumped on Tuesday as US stocks shrugged off a drop in oil prices to move firmly higher.
The Dow Jones Industrial rose 222.57 points (1.39%) to 16 196.41.
The broad-based S&P 500 climbed 30.80 (1.65%) to 1 895.58, while the tech-rich Nasdaq Composite Index jumped 98.44 (2.27%) to 4 435.96.
Apple and Amazon both gained 2.8%, while petroleum-linked shares were mixed following a drop in oil prices.
Sentiment was boosted by a 3.3% rise in the Chinese stock market and by big gains Monday in Europe, when US markets were closed, said Chris Low, chief economist at FTN Financial.
Banking shares rallied, with Goldman Sachs rising 2.0%, Citigroup 3.6% and Bank of America 2.5%.
US-listed Chinese stocks advanced. Alibaba climbed 8.9%, Baidu 3.1% and JD.com 8.0%.
Online coupon company Groupon surged 41.2% following news that Alibaba bought 33 million Groupon shares.
Home-security company ADT surged 47.5% on news it agreed to be acquired by private-equity firm Apollo for $6.9bn.
Hormel Foods jumped 7.1% as it lifted its 2016 earnings forecast from $1.43 to $1.48 per share to $1.50 to $1.56 per share following a 36.9% rise in first-quarter earnings to $235.1m.
