After a 130-point climb, the Dow Jones Industrial Average rose 91.19 points, or 0.6 percent, to 16,367.88, with International Business Machines and Cisco Systems leading blue-chip gains that included 21 of its 30 components.
The S&P 500 added 8.18 points, or 0.4 percent, to 1,865.62, with industrials the best performing and consumer discretionary the worst among its 10 major industry groups.
McCormick & Company rallied after reporting first-quarter results and said unfavorable foreign currency exchange rates would cut its 2014 sales by 1 percent. Walgreen jumped after the pharmacy chain said it would shutter 76 stores. Shares of Carnival slid after the cruise operator warned it could record a loss in its current quarter.
After wavering on either side of neutral, the Nasdaq gained 7.88 points, or 0.2 percent, to 4,234.27.
The CBOE Volatility Index (VIX), a measure of investor uncertainty, fell 5.3 percent to 14.29.
The dollar held steady against other global currencies and the yield on the 10-year Treasury note climbed 1 basis point to 2.745 percent.
"The bond markets are more interested in inflation expectations right now, where equity markets are talking about rate cycles. That's why we haven't seen a big move in the 10-year rates. Even with the size of the U.S. balance sheet and the expansion we've seen there, inflation pressures remain at bay," said Gaffney.
Crude futures declined 41 cents cents to $99.19 a barrel; gold futures for April delivery rose 20 cents to $1,311.40 an ounce.
For every two shares sliding, roughly three gained on the New York Stock Exchange, where nearly 645 million shares traded. Composite volume neared 3.2 billion.