Stocks finished confidently higher today, as a batch of strong earnings reports lifted investor sentiment. The Dow surged 499.5 points for its best day since March 16, with help from Johnson & Johnson's (JNJ) post-earnings pop. The Nasdaq and S&P 500 also posted their best days in over a month, the former buoyed by a substantial rally from tech stocks.

Today's rally came even after the 10-year Treasury yield briefly touched 2.93% -- a level not seen since late 2018. Meanwhile, after better-than-expected economic data, investors are awaiting reports from Netflix (NFLX) and IBM (IBM) after today's close. 

The Dow Jones Average (DJI - 34,911.20) rose 499.5 points or 1.5% for the day. Nike (NKE) led the gainers with a 4.1% rise, while Travelers Companies (TRV) dropped to the bottom of the index with a 4.9% loss. 

The S&P 500 Index (SPX - 4,462.21) added 70.5 points, or 1.6%, for the day, while the Nasdaq Composite (IXIC - 13,619.66) jumped 287.3 points, or 2.2%.

Lastly, the Cboe Market Volatility Index (VIX - 21.37) fell 0.8 points or 3.6%.

OIL, GOLD FALL FROM HIGHS

Oil prices fell from their three-week highs today. May-dated West Texas Intermediate (WTI) crude shed $5.65, or 5.2%, to settle at $102.56 a barrel.

With the rising U.S. dollar in the background, gold prices fell from last session's five-week high. June-dated gold gave back $27.40, or 1.4%,to settle at $1,959 an ounce.