Stocks rallied Tuesday after a Federal Reserve regional president said fears about the central bank’s outlook were “unwarranted” and investors shifted their focus to strong earnings from Wal-Mart and Home Depot.

The Dow Jones industrial average rose 104 points, or 1%, pushing the index to 10,406.

The Nasdaq (COMP) composite climbed 28 points, or 1.3%, to 2,209; the S&P 500 (SPX) added 13 points, or 1.2%, to close at 1,092.

The gains followed a choppy trading day on Wall Street on Monday. The tech-heavy Nasdaq managed to advance, rising about 0.4%, while the Dow and S&P 500 ended little changed.

(Source: CNN Money)