US shares rose on better-than-expected profits from banking giant JPMorgan Chase and data showing a drop in new US jobless claims.
The Standard & Poor's 500 Index gained 13.24 points, or 1.55%, to 865.30. The Dow Jones industrial average rose 95.81 points, or 1.19%, to 8,125.43.
The Nasdaq Composite Index jumped 43.64 points, or 2.68%, to 1,670.44.
Market action came after JPMorgan Chase announced a net profit of $US2.1 billion in the first quarter of 2009.
The figure was slightly down from 2008 figures for the same period, but was better than most market analysts had predicted and suggested a potential recovery in the troubled banking sector.
The Labour Department said new US jobless claims fell by 8% to 610,000 in the past week, a third consecutive decline suggesting some easing of pressure in the weak labour market.
