U.S. stocks jumped on Tuesday as commodity-related shares rose with a slump in the dollar and the latest batch of corporate earnings improved the profit outlook.
Oil futures gained $2.77 at $76.90, boosting shares of energy companies, including Chevron Corp
Shares of Merck & Co
Gold futures also rallied after the gains in the euro, which lost ground in recent weeks amid worries over debt problems in Greece.
The main catalyst is weakness in the dollar, which has helped propel energy, basic materials and industrial stocks higher in early trading, said Michael Sheldon, chief market strategist at RDM Financial in Westport, Connecticut.
The Dow Jones industrial average <.DJI> was up 101.58 points, or 1.01 percent, at 10,200.72. The Standard & Poor's 500 Index <.SPX> was up 11.66 points, or 1.08 percent, at 1,087.17. The Nasdaq Composite Index <.IXIC> was up 19.37 points, or 0.89 percent, at 2,202.90.
Also helping sentiment, a gauge of manufacturing in New York state rose in February as inventories jumped, the New York Federal Reserve said in a report, easily beating a forecast.
The day's gains come after a three-day weekend, with the market closed on Monday for the U.S. Presidents Day holiday.
A nuclear energy exchange-traded fund
Financial stocks got an early boost from Britain's Barclays Plc
Bank of America
Shares of chipmaker Intel
(Editing by Kenneth Barry)