Stocks extended their gains with the Dow rising 1 percent on Wednesday as investors remained optimistic about progress on plans to lessen the euro zone's debt woes.

If equities maintain their gains, it will extend a recent rally to four days.

The Dow was boosted by Microsoft Corp, up 2.1 percent to $26.21, and International Business Machines, up 1.6 percent to $180.59.

The Dow Jones industrial average was up 116.63 points, or 1.04 percent, at 11,307.32. The Standard & Poor's 500 Index was up 7.98 points, or 0.68 percent, at 1,183.36. The Nasdaq Composite Index was up 20.63 points, or 0.81 percent, at 2,567.46. (Reporting by Ryan Vlastelica)