The Dow Jones industrial average surged 286 points, its best day this year, as investors hoped that more help may be on the way for the U.S. and Europe from central banks. The Dow turned positive for the year and erased a 275-point plunge from Friday set off by a dismal U.S. jobs report.

The Dow Jones industrial average rose 286.84 points, or 2.4 percent, to 12,414.79.

The Standard & Poor's 500 rose 29.63 points, or 2.3 percent, to 1,315.13.

The Nasdaq composite index rose 66.61 points, or 2.4 percent, to 2,844.72.

For the week:

The Dow is up 296.22 points, or 2.4 percent.

The S&P 500 is up 37.09 points, or 2.9 percent.

The Nasdaq is up 97.24 points, or 3.5 percent.

For the year:

The Dow is up 197.23 points, or 1.6 percent.

The S&P 500 is up 57.53 points, or 4.6 percent.

The Nasdaq is up 239.57 points, or 9.2 percent.