In the U.S., the Dow rose 162.57 points, or 1.3 percent, to close at 12,573.80. The Standard & Poor's 500 index gained 15.25 points to 1,324.18, and the Nasdaq composite rose 33.34 to 2,843.07. Trading was light for a second day.
Investors sold U.S. government debt, an indication that they were willing to move money into riskier assets. The yield on the benchmark 10-year U.S. Treasury note climbed 0.08 percentage point to 1.67 percent.
Michael Kors Holdings, a high-end clothing company, rose $2.06, or 5 percent, to $40.24 after reporting that its fourth-quarter profit more than tripled on strong demand grew for its luxury clothing and accessories.
The company also boosted its earnings forecast for the quarter and the year. Luxury spending has recovered from the recession faster than other consumer spending. Stocks of other upscale retailers, like Nordstrom, also rose.
Among other stocks making big moves:
— VeriFone Systems, an electronic payments company, fell $2.02, or 6 percent, to $31.92. A jury ruled against it last week in a patent dispute, and VeriFone said late Monday that it was booking $18 million in expenses.
— A123 Systems, which makes batteries for electric cars, jumped 54 cents, or 52 percent, to $1.58 after saying it had developed new lithium ion technology capable of operating in extreme heat or cold. Heat generated by powerful next-generation batteries is one of the biggest hurdles in developing cars that do not use fossil fuels.
— Textron, which makes planes, rose 94 cents, or 4 percent, to $24.52, one of the biggest gains in the S&P 500. Business jet operator NetJets said it plans to spend up to $9.6 billion on planes from Textron's Cessna unit and from Bombardier.
— First Solar, the world's largest maker of a type of solar panel, rose $2.62, or 21.2 percent, to $14.95. It reported strong demand from Europe and will delay the closing of a German plant.
AP Business Writer Christina Rexrode in New York contributed to this report.
- Women innovators leading by example
- More Americans spending at least half their...
- Retiring overseas is more than a matter of money
- Mitt Romney tells UVU grads to 'live a large...
- Money doesn't necessarily equate to job...
- Historic Salt Lake building now home to...
- 19 Mother's Day gift ideas for moms with...
- Michelle Singletary: Stop picking on the poor
- Mitt Romney tells UVU grads to 'live a... 22
- More Americans spending at least half... 14
- Proposed trade legislation could boost... 5
- US factory activity improves in April,... 3
- Women innovators leading by example 3
- We finally understand what robots mean... 2
- Money doesn't necessarily equate to job... 2
- Exxon's 1Q profit falls 46 percent amid... 1