Stocks jumped on Thursday as expectations of reassuring quarterly results from bellwethers including Google lifted technology shares, while JPMorgan's better-than-expected profit added to bank stabilization hopes.

Investors bet that technology earnings would show upside surprises, sending shares of Google up 2.5 percent to $389.00, Hewlett-Packard up 5.3 percent to $36.70 and those of International Business Machines Corp up 2.8 percent to $101.69.

People are starting to feel that maybe there's a slight chance this is not just a bear market rally, said John O'Brien, senior vice president at MKM Partners LLC in Cleveland, referring to the market's 28 percent rebound since the 12-year closing low of March 9.

People are anticipating a pretty good number from Google. They seem to like to under-promise and over-deliver.

On Nasdaq, Apple Inc shares climbed 4.3 percent to $122.64.

Also boosting sentiment were stronger-than-expected quarterly results from Harley-Davidson Inc that boosted consumer spending hopes. The motorcycle maker's shares rose 7.8 percent to $18.45.

The Dow Jones industrial average <.DJI> raced up 126.48 115.56 points, or 1.58 percent, to 8,156.10. The Standard & Poor's 500 Index <.SPX> climbed 16.62 points, or 1.95 percent, to 868.68. The Nasdaq Composite Index <.IXIC> rose 44.17 points, or 2.72 percent, to 1,670.97.

Web search leader Google is scheduled to post quarterly results after the bell. Hewlett-Packard was the Dow's second top boost, behind IBM, the technology services giant.

Optimism in the technology sector also received a boost from cell phone maker Nokia's after its announcement that a drop in demand for its products was stabilizing, driving its shares up 10.6 percent to $14.77in New York.

Shares of JPMorgan climbed 3.1 percent to $33.59, while those of Citigroup , due to post quarterly results on Friday, rose 3 percent to $4.09. The KBW Bank index <.BKX> rose nearly 4 percent.

(Editing by Jan Paschal)