U.S. stocks log biggest jump in almost 2 weeks on strong earnings, consumer sentiment

U.S. stocks cemented their biggest daily advance in almost two weeks on Wednesday as investors reacted to optimistic earnings from Nike Inc. and FedEx Corp., along with a surprisingly strong reading on consumer confidence. The S&P 500
SPX,
+1.49%
gained 56.82 points, or 1.5%, to finish at 3,878.44, according to Dow Jones Market Data. The Nasdaq Composite
COMP,
+1.54%
advanced 162.26 points, or 1.5%, to close at 10,709.37. The Dow Jones Industrial Average
DJIA,
+1.60%
gained 526.74 points, or 1.6%, to finish at 33,376.48.