US stocks rallied with the Dow industrials up more than 140 points on Tuesday as solid earnings and the perception the Federal Reserve may soon end its rate increases countered concerns that record high oil prices could hurt economic growth and future profitability.
Merrill Lynch & Co Inc shares rose after the largest US brokerage firm posted higher-than-expected quarterly profit, helped by strong investment banking and retail brokerage revenue.
The Dow Jones industrial average was up 137.03 points, or 1.24 percent, at 11,210.81, after climbing to a session high at 11,221.54. The Standard & Poor's 500 Index was up 14.20 points, or 1.10 percent, at 1,299.53. The Nasdaq Composite Index was up 28.02 points, or 1.21 percent, at 2,339.18.