Stocks rose sharply Wednesday on economic data and the Federal Reserve’s latest Beige Book report showing the economy was heading in a positive direction.

The Dow Jones Industrial Average rose 249.78 points, or 2.3 percent , to 11,255.78. The S&P 500 climbed 19.47 points, or — 1.7 percent, to 1,206.07 and the Nasdaq Composite rose 51.20 points, or 2.1 percent, to 2.549.43.

The report, which summarizes economic information gathered from Banks and key businesses around the country, indicates the “the economy continued to improve, on balance” in October and November.

The report was prepared ahead of the Federal Open Market Committee’s Dec. 14 meeting to set monetary policy for the next six weeks. It is designed to give Fed officials a better feel of conditions on the ground around the country.