Stocks extended gains on Wednesday, with the S&P 500 and the Nasdaq rising more than 1 percent.

The Dow Jones industrial average <.DJI> added 94.53 points, or 0.83 percent, at 11,500.46. The Standard & Poor's 500 Index <.SPX> was up 14.09 points, or 1.18 percent, at 1,206.85. The Nasdaq Composite Index <.IXIC> jumped 23.18 points, or 0.92 percent, at 2,546.63.

(Reporting by Angela Moon; editing by Jeffrey Benkoe)