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Stocks rallied Tuesday amid optimism that the Federal Reserve will announce further steps to help the economy following their two-day meeting, but finished off session highs after reports that a German official said there were no plans to use the EU's rescue fund to buy bonds of troubled countries.
The Dow Jones Industrial Average climbed 95.51 points, or 0.75 percent, to close at 12,837.33, led by BofAand Microsoft .
The S&P 500 rose 13.20 points, or 0.98 percent, to end at 1,357.98. Nasdaq jumped 34.43 points, or 1.19 percent, to finish at 2,929.76.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, closed near 18.
Among the key S&P sectors, materials and financials led the gainers, while telecoms lagged.
Germany's news from the G20 meeting countered an earlier report from The Guardian that said Chancellor Angela Merkel might surrender to market pressure amid rising bond yields in Spain.
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