U.S. stocks closed higher Wednesday as the market bounced back from losses a day earlier and notched its best day in two months.
Banks and other financial companies led the gainers as investors bet that global interest rates will rise further. Technology stocks also were among the big gainers. Utilities and real estate companies lagged the broader market rally.
The Standard & Poor's 500 index rose 21.31 points, or 0.9 percent, to 2,440.69.
The Dow Jones industrial average gained 143.95 points, or 0.7 percent, to 21,454.61.
The Nasdaq composite added 87.79 points, or 1.4 percent, to 6,234.41.
The Russell 2000 index of smaller company stocks picked up 21.75, or 1.6 percent, to 1,425.27.
For the week:
The S&P 500 is up 2.39 points, or 0.1 percent.
The Dow is up 59.85 points, or 0.3 percent.
The Nasdaq is down 30.84 points, or 0.5 percent.
The Russell 2000 is up 10.49 points, or 0.7 percent.
For the year:
The S&P 500 is up 201.86 points, or 9 percent.
The Dow is up 1,692.01 points, or 8.6 percent.
The Nasdaq is up 851.30 points, or 15.8 percent.
The Russell 2000 is up 68.14 points, or 5 percent.