U.S. stocks gained strength on Wednesday as traders were encouraged by Dell's strong earnings and a recovery in commodity prices.
Market sentiment was bolstered after Dell reported stronger- than-expected earnings late Tuesday. With its profit nearly tripled in the latest quarter, the computer maker reassured investors about its full-year outlook, giving the market some relief after Hewlett Packard cut its full-year outlook on weak consumer demand.
Meanwhile,the strong performance in both energy and materials stocks also pushed the market higher. U.S. crude oil price rebounded more than 3 percent and settled above 100 dollars a barrel on Wednesday, giving oil producers and relative companies a lift.
Investors were also keeping a close watch on the minutes from the Federal Open Market Committee, which showed policy-makers were divided in the timing of a possible monetary tightening.
The Dow Jones industrial average rose 80.60 points, or 0.65 percent, to 12,560.18. The Standard & Poor's 500 jumped 11.70 points, or 0.88 percent, to 1,340.68. The Nasdaq Composite Index rallied 31.79 points, or 1.14 percent, to 2,815.00.
