The Dow Jones Industrials surged 147.44 points, to break for lunch at 38,233.24.
The S&P recovered 53.01 points, or 1.1%, to 5,101.43.
The NASDAQ hiked 317.43 points, or 1.2%, to 15,929.32.
Shares of Alphabet jumped more than 10% following better-than-expected first-quarter earnings and headed for their best day since July 2015.
The company also authorized its first-ever dividend and a $70-billion buyback. Microsoft added about 3% on strong fiscal third-quarter results.
Stocks also appeared to get a boost from March’s core personal consumption expenditures reading. The gauge, excluding food and energy, rose 2.8% from a year ago and came in ahead of the 2.7% expected by Dow Jones. Personal spending rose 0.8% and ahead of a 0.7% estimate.
The major averages are on track for a winning week. The S&P 500 is up 2.8% week to date, on pace to break a three-week losing streak. The NASDAQ has gained more than 4%, headed for its first positive week in five. The Dow is up by a more modest 0.6% this week.
Prices for the 10-year Treasury advanced, dropping yields to 4.67% from Thursday’s 4.70%. Treasury prices and yields move in opposite directions.
Oil prices took on 33 cents to $83.90 U.S. a barrel.
Gold prices revived $6.20 to $2,352U.S. an ounce.