The Dow finished up close to a percent, while the S&P 500 rose a percent and a half, and the tech-heavy Nasdaq closed up 2 percent higher.
Payne Capital Management's president, Ryan Payne, said it's upbeat earnings that are encouraging investors to buy.
"Things got a little bit oversold. Right? We had a big selloff in the beginning of the year with the readjustment with the Fed and interest rates. We know they're going higher. But let's face it, you know, this past quarter, earnings looked good. You have 76% of companies beating on the top and bottom line. And, at the end of the day, the stock market's a slave to earnings and earnings looked pretty good. And some of the, if you started looking at guidance as well, going into next quarter, you're seeing the same thing. So it looks like earnings are strong. The economy should be strong again this year and you're starting to see a big bounce in the market because there's a lot of cash out there and there's a lot of opportunity to buy stocks."
Shares of Chipotle surged after beating profit and sales estimates, while KFC and Taco Bell parent Yum Brands also rose after reporting sales that beat estimates.
Enphase Energy jumped on upbeat results, lifting other solar stocks, like SunPower and SolarEdge Technologies.
But CVS slipped after its earnings forecast for 2022 fell short of Wall Street expectations.
And after four straight days of deep declines, shares of Meta Platforms rose 5%, bouncing back slightly after losing almost a third of the stock's value.
