US shares surged overnight after Government data showed that the economy had exited recession in the third quarter to post its strongest growth in two years.
The Dow Jones Industrial Average chalked up 200.19 points (2.05 per cent) in final trades to 9962.88.
The tech-heavy Nasdaq rose 37.94 points (1.84 per cent) to 2097.55 and the broad-market Standard & Poor's 500 index added 23.42 points (2.25 per cent) to a preliminary 1066.05.
The market climbed immediately after the opening bell after the government announced that following a year of contraction, the US economy grew at a seasonally adjusted 3.5 per cent annual rate in the third quarter from the prior quarter.
It was the strongest expansion since the 2007 third quarter, when a home mortgage crisis triggered a global financial crisis that hammered the world economy.
The third-quarter growth was better than the 3.2 per cent rate expected by most analysts.
"The bulls are looking to snap a recent string of losses, buoyed by a larger-than-expected increase in third-quarter GDP, which is soothing some economic recovery fears that have crept back on the Street recently," analysts at Charles Schwab & Co said in a report.
Shares had tumbled to their worst loss this month on Wednesday amid concerns over the pace of economic recovery following an unexpected decline in new home sales and dampening consumer sentiment.
CNP Price at posting:
25.5¢ Sentiment: Hold Disclosure: Held
