NEW YORK, Jan. 21 (UPI) -- Stocks jumped on U.S. markets as International Business Machines reported a 12 percent rise in its fourth quarter profits.
Some financial companies were also staging a comeback from Tuesday's session, which saw financial firms fall 17 percent.
By close, Bank of America was up 30.2 percent, Citigroup Inc. up 26.4 percent and Wells Fargo & Co. up 12.3 percent. JP Morgan Chase stock rose 23.9 percent.
The Dow Jones industrial average finished 279.01 points higher, up 3.51 percent, at 8,228.10 points. The Standard & Poor's 500 jumped 4.35 percent, 35.03 points, to 840.25. The Nasdaq composite index gained 66.21 points, 4.60 percent, to 1,507.07.
On the New York Stock Exchange, 2,462 stock advanced and 632 declined on a volume of 7.6 billion shares traded.
The benchmark 10-year U.S. Treasury bond fell 1 19/32 to yield 2.55 percent.
The euro rose to $1.3055, compared to Tuesday's $1.2882. Against the Japanese yen, the dollar fell to 89.36 yen, down from Tuesday's 89.77 yen.
In Tokyo, the Nikkei average lost 164.15 points, dropping 2.04 percent, to 7,901.64.
In London, the FTSE 100 index dropped 31.52 points, 0.77 percent, to 4,059.88.
