After a 338-point leap, the Dow Jones Industrial Average was lately up 333.97 points, or 1.9 percent, at 17,690.84, with Microsoft and International Business Machines leading blue-chip gains that included all 30 components.
The S&P 500 advanced 38.02 points, or 1.9 percent, to 2,050.92, with technology leading gains and all 10 of its major sectors rising.
The Nasdaq added 85.80 points, or 1.8 percent, to 4,730.12.
For every share falling, four rose on the New York Stock Exchange, were 594 million shares traded as of 3:10 p.m. Eastern. Composite volume surpassed 3.5 billion.
The U.S. dollar gained against the currencies of major U.S. trading partners and the yield on the 10-year note used to figure mortgage rates and other consumer loans gained 7 basis points to 2.2095 percent.
After rising to $58.73 a barrel, West Texas Intermediate turned lower, losing $2.36, or 4.2 percent, to $54.11 a barrel. Gold futures for February delivery added 30 cents to $1,194.80 an ounce on the New York Mercantile Exchange.
American motorists are paying less than $2.50 a gallon at the pump for the first time in more than five years, with retail gasoline prices falling to an average $2.477 a gallon Wednesday night, according to the AAA.