Companies whose profits are directly impacted by fuel prices led the charge, including truckers, railroads and airlines. The Dow Jones Transportation (DJTA) average gained 4%.
But gains were broad based, with all 30 of the Dow's components rising, including McDonald's (MCD, Fortune 500). The fast-food company said Friday that same-store sales jumped 8% worldwide. (Full story.)
Other big gainers included Boeing (BA, Fortune 500), Citigroup (C, Fortune 500), DuPont (DD, Fortune 500) and Home Depot (HD, Fortune 500).
Home Depot was among many consumer names rallying on hopes that less money spent on fuel will mean more money spent on other things. Lowe's (LOW, Fortune 500) and Best Buy (BBY, Fortune 500) rose, too.
Market breadth was positive. On the New York Stock Exchange, winners topped losers 3 to 1 on volume of 1.25 billion shares. On the Nasdaq, advancers topped decliners by more than 2 to 1 on volume of 2.23 billion shares.
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