Stocks rallied broadly today supported by a surge in commodity prices.

Energy and materials stocks led the bounty, following three straight days of market declines.

The Dow Jones Industrial Average jumped 80.60 points, or 0.65 percent, to close at 12,560.18. The S&P 500 Index advanced 11.70 points, or 0.88 percent, to 1,340.68. The Nasdaq composite added 31.79 points, or 1.14 percent, to 2,815.

Minutes from the last FOMC meeting, which revealed that the central banks generally think the US economy is improving, kept the rally going.

Oil futures rose almost 3 percent to finish just under $100 per barrel. Energy stocks Chevron Corp. (NYSE: CVX) jumped 2.45 percent and Exxon Mobil Corp. gained 1.65 percent.

Gold jumped more than 1 percent to $1497 per ounce.

Dell Inc. (Nasdaq: DELL) soared 5.35 percent after its quarterly income (released after the close yesterday) almost tripled. The computer maker also issued an upbeat forecast.

However, Staples (Nasdaq: SPLS) plunged 15.37 percent after company posted disappointing earnings and reduced the full-year forecast.

The 10-year Treasury note slipped as the yield moved up to 3.17 percent from 3.12 percent late Tuesday.