Stocks advanced and were trading at session highs late Tuesday afternoon, led by gains in materials shares.
The Financial Times reported that European leaders are discussing additional rescue funds for the region.
The Dow Jones industrial average <.DJI> was up 104.33 points, or 0.86 percent, at 12,202.16. The Standard & Poor's 500 Index <.SPX> was up 7.35 points, or 0.58 percent, at 1,264.43. The Nasdaq Composite Index <.IXIC> was up 4.30 points, or 0.16 percent, at 2,660.06.
(Reporting by Caroline Valetkevitch; Editing by James Dalgleish)