At the closing bell, the Dow Jones Industrial Average was at 22,876.75, up more than 1,000 points or five percent.

The broad-based S&P 500 also surged five percent to 2,467.68, while the tech-rich Nasdaq Composite Index advanced 5.8 percent to 6,554.36.

The rally came after a bruising stretch for Wall Street and followed strong retail sales data and White House reassurances that Fed Chair Jay Powell won't be fired. Analysts attributed the gains in part to technical factors after days of selling.