The Dow Jones Industrial Average increased 133.33 points, or 0.56 percent, to 23,883.09, after jumping more than 400 points earlier in the session.
The S&P 500 was up 25.70 points, or 0.90 percent, to end at 2,868.44. The Nasdaq Composite Index rose 98.41 points, or 1.13 percent, to 8,809.12.
Ten of the 11 primary S&P 500 sectors finished higher, with health care and technology up 2.15 percent and 1.42 percent, respectively, outpacing the rest. Financials fell 0.07 percent, the only declining group.
The upbeat finish followed massive gains in crude futures.
The West Texas Intermediate, the U.S. oil benchmark, soared 20.45 percent to settle at 24.56 dollars a barrel, while the international benchmark Brent crude rallied more than 13 percent.
Wall Street also gauged the possibility of normalizing economic activities as some U.S. states started to ease restrictions on business.
On the data front, U.S. Non-Manufacturing Index registered 41.8 percent in April, falling sharply from the March reading of 52.5 percent, the Institute of Supply Management reported Tuesday. A reading below 50 percent indicates the sector is generally contracting.
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