"The wild card is really what's going to happen to oil prices ... any little geopolitical move can have pretty big impacts on that sector and in this economy also," said George Young, portfolio manager with Villere & Co in New Orleans.
"The cases that the consumer pulls in their horns and their nerves about inflation and don't spend, well, that's going to have a direct impact on earnings, it doesn't matter which sector of the economy you've invested in."
According to preliminary data, the S&P 500 gained 56.29 points, or 0.94%, to end at 6,033.26 points, while the Nasdaq Composite gained 294.73 points, or 1.52%, to 19,701.56. The Dow Jones Industrial Average rose 317.79 points, or 0.76%, to 42,519.14.