The S&P 500 closed on Wednesday at twice its value from just two years ago, a bounce whose vigor has not been seen since the Great Depression.

Stocks were boosted by Dell earnings and deal announcements fueling hope for more gains, but light volume makes the recent move more tenuous.

Based on the latest available data, the Dow Jones industrial average <.DJI> was up 61.53 points, or 0.50 percent, at 12,288.17. The Standard & Poor's 500 Index <.SPX> gained 8.26 points, or 0.62 percent, to 1,336.27. The Nasdaq Composite Index <.IXIC> rose 21.21 points, or 0.76 percent, to 2,825.56.

(Reporting by Caroline Valetkevitch; Editing by Dan Grebler)