Wall Street sees best day in 2 months (3)

On the economic front, U.S. existing home sales unexpectedly rose 2.1 percent in October to a seasonally-adjusted annual rate of 4.79 million units, according to the National Association of Realtors.

A separate report from the National Association of Home Builders also showed that the homebuilder sentiment gained for a seventh straight month in November, again indicating that the most- battered housing market was slowly bottoming out.

Among stocks in focus, Apple soared more than 7 percent, lifting itself from bear territory after hitting a nine-month low last week.

In other markets, the U.S. dollar weakened against most major currencies, while oil prices rebounded to the highest level since mid-October.

Light, sweet crude for January delivery gained 2.36 dollars, or 2.72 percent, to settle at 89.28 dollars a barrel on the New York Mercantile Exchange.

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