Gains by large-cap technology shares drove major indexes higher despite another firm inflation reading.
DJIA gained 153 points, or 0.4%, to 38239, the S&P 500 rose 1% to 5099 and the Nasdaq jumped 2% to 15927.
Alphabet shares climbed 10% after Google's parent posts strong 1Q earnings and announces its first cash dividend.
Microsoft added 1.8% as artificial intelligence bolstered demand for its software and cloud services.
Energy and utilities ere the worst performing sectors. Exxon Mobil and Chevron raked in $13.7 billion in total first-quarter profits, but their run of record-setting results appears to be tapering off due to lower refining margins and some of the cheapest natural-gas prices on record. Exxon stock retreated 2.8%, while Chevron ticked 0.4% higher.
The S&P posts its first weekly advance in four weeks and the Nasdaq broke a four-week losing streak.