Stocks jumped amid upbeat tech news and hopes that the worst of the BP spill is over, with the S&P 500 index turning positive for the year and rising above its 200-day moving average for the first time in a month, suggesting the downtrend may be nearing an end.

Chip giant Intel rose 2.8 percent after two Taiwan rivals pointed to growing global demand.

The S&P energy stock index added 2.7 percent, with the US-listed shares of BP up 2.4 percent at $31.40 and Halliburton rising 6 percent to $25.46.

The S&P gained 25.60 points, or 2.35 percent, to 1,115.23 and the Dow Jones industrial average added 213.88 points, or 2.10 percent, to 10,404.77. The Nasdaq composite index climbed 61.92 points, or 2.76 percent, to 2,305.88.