The Dow Jones Industrial Average was up 148.83 points (1.21 percent) to stand at 12,410.25 in closing trade.

The broader S&P 500 rose 12.84 points (0.98 percent) to 1,320.25, while the tech-heavy Nasdaq Composite climbed 32.75 points (1.20 percent) to 2,773.24.

The gains came after the Greek parliament passed a bill needed to stave off a destabilizing default and the Institute for Supply Management said its index tracking economic activity in the Chicago region had jumped in June, beating forecasts.

Copyright AFP (Agence France-Presse), 2011