Stocks rise as commodities gain

The Dow Jones industrial average rose 96.28, or 1 per cent, to 10,092.19

Stocks have risen in the US as investors found fresh reasons to bet on an economic rebound.

Stocks ended sharply higher as gains in commodities such as oil and natural gas hinted that traders expect a strengthening economy will demand more energy.

Robust demand at an auction for Treasury debt also eased fears that the government would have to pay higher interest rates to entice buyers.

The Dow Jones industrial average rose 103.78, or 1.3%, to close on Thursday at 8,403.80.

The Standard & Poor 500 index rose 13.77, or 1.5%, to 906.83, while the Nasdaq composite index advanced 20.71, or 1.2%, to 1,751.79.

It was the second straight day that interest rate movements called the shots in the stock market.

Analysts expect Wall Street will continue to grapple with worries that the government could eventually exhaust buyers' appetite for debt with an unprecedented level of bond sales as Washington funds its bank rescue and economic stimulus measures.

Traders warned the fractiousness could continue as investors look for data to prove that their bets this spring on an economic recovery were correct.

The S&P's 500 index, considered the most reliable measure of the broader market, is still up 34% from a 12-year low in early March.

"The market is absolutely being held hostage to the data," said David Joy, chief market strategist at Ameriprise Financial Inc's RiverSource Investments.