The Dow Jones Industrial Average jumped 456.94 points, or 1.99 percent, to 23,475.82. The S&P 500 rose 62.75 points, or 2.29 percent, to 2,799.31. The Nasdaq Composite Index increased 232.15 points, or 2.81 percent, to 8,495.38.
All the 11 primary S&P 500 sectors climbed, with technology and energy up 3.87 percent and 3.58 percent, respectively, outpacing the rest.
Oil prices attempted to rebound on Wednesday after their massive losses in the recent market chaos.
The West Texas Intermediate for June delivery jumped 19.1 percent to settle at 13.78 U.S. dollars a barrel on the New York Mercantile Exchange, following a 43.37-percent drop in the prior session. The international benchmark Brent crude settled 5.38 percent higher on Wednesday.
Wall Street also paid close attention to new stimulus amid the COVID-19 pandemic.
The U.S. Senate on Tuesday passed a 484-billion-dollar relief package that would increase funding for small businesses, hospitals and coronavirus testing as the COVID-19 fallout continues to ripple through the country. The House is expected to vote later this week.
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