The Dow Jones industrial average rose 216.13 points, or 1.05 percent, to close at 20,763.89, with JPMorgan Chase outperforming and Nike the top decliners.
The S&P 500 gained 25.46 points, or 1.08 percent, to end at 2,374.15, with financials leading nine sectors higher and real estate and telecommunications lagging.
The Nasdaq advanced 73.30 points, or 1.24 percent, to close at 5,983.82.
About three stocks advanced for every decliner at the New York Stock Exchange, with an exchange volume of 907.07 million and a composite volume of 3.647 billion at the close.
The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded near 10.9, down 25.6 percent.
On tap this week:
Earnings: Alcoa, Newmont Mining, Kimberly-Clark, Illiinois Tool Works, Hasbro, Halliburton, Whirlpool, Express Scripts, Ameriprise, Range Resources, Canadian National Railway, J&J Snack Foods, Owens-Illinois, Crane
Earnings: Caterpillar, 3M, Coca-Cola, McDonald's, Dupont, Eli Lilly, Novartis, AutoNation, Baker Hughes, SAP, Biogen, AT&T, Lockheed Martin, PulteGroup, Freeport-McMoran, JetBlue, AK Steel, Polaris, Paccar, Valero Energy, Xerox, TransUnion, Arconic, Capital One, Chipotle Mexican Grill, Discover Financial, U.S. Steel, Juniper Networks, Stryker, Panera Bread, United Health Services, Valvoline
9:00 a.m. S&P Case-Shiller home prices
9:00 a.m. FHFA home prices
10:00 a.m. New home sales
10:00 a.m. Consumer confidence
Earnings: Boeing, Daimler, Fiat Chrysler, Pepsico, United Technologies, GlaxoSmithKline, Anthem, Alaska Air, Northrop Grumman, General Dynamics, Dr. Pepper Snapple, Hershey, Norfolk Southern, State Street, Credit Suisse, Hess, Seagate Technology, Twitter, Nasdaq, Amgen, Paypal, F5Networks, Tractor Supply, Buffalo Wild Wings, Boston Beer, SixFlags, CR Bard, Whiting Petroleum, Suncor
Earnings: Alphabet, Microsoft, Intel, Amazon.com, Raytheon, Baidu, Starbucks, Expedia, Comcast, Bristol-Myers Squibb, Flex, GoPro, Western Digital, Vertex , Sirius XM Radio, Under Armour, American Airlines, Southwest Air, MGM Growth, Generac, Domino's Pizza, CME Group, KKR, Johnson Controls, Union Pacific, UPS, Total, Celgene, Deutsche Bank, Alexion Pharma, Nintendo, AbbVie, Bayer, Air Products
7:45 a.m. ECB rate decision
8:30 a.m. ECB President Mario Draghi press briefing
8:30 a.m. Jobless claims
8:30 a.m. Durable goods
8:30 a.m. Advance econ indicators
10:00 a.m. Pending home sales
10:00 a.m. Housing vacancies
Earnings: Exxon Mobil, Chevron, Colgate-Palmolive, Honda Motor, Barclays, UBS, Sony, Synchrony Financial, Spirit Airlines, Autoliv, Sanofi, Spirit Airlines, Goodyear Tire, Calpine, Cabot Oil and Gas, Phillips 66, Weyerhaeuser
8:30 a.m. Q1 adv Real GDP
9:45 a.m. Chicago PMI
10:00 a.m. Consumer sentiment
2:30 p.m. Philadelphia Fed President Patrick Harker
Watch: Rally will be earnings based