Stocks notched their first gain of the week Thursday after Spain announced severe budget cuts intended to convince the world that it can meet deficit-reduction targets.
It was the best day for the U.S. market since Sept. 13, when Federal Reserve Chairman Ben Bernanke announced further steps by the central bank to speed the economic recovery.
The Dow Jones industrial average rose 72.46 points, or 0.5 percent, to 13,485.97.
The S&P 500 index rose 13.83, or 1 percent, to 1,447.15.
The Nasdaq composite index rose 42.90, or 1.4 percent, to 3,136.60.
For the week:
The Dow is down 93.50, or 0.7 percent.
The S&P 500 is down 13.00, or 0.9 percent.
The Nasdaq is down 43.36, or 1.4 percent.
For the year:
The Dow is up 1,268.41, or 10.4 percent.
The S&P 500 is up 189.55, or 15.1 percent.
The Nasdaq is up 531.45, or 20.4 percent.