U.S. stocks recouped some of their recent losses as oil prices stabilized and confidence grew in the Federal Reserve's ability to contain inflation.

The Dow Jones Industrial Average rose 316.14 points, or 0.61%, to 51778.04. The S&P 500 gained 85.95 points, or 1.14%, to 7637.76 and the tech-heavy Nasdaq Composite added 439.87 points, or 1.69%, to 26418.30.

Comfort with Fed Chairman Kevin Warsh's strategy and hopes for a rapid return of Saudi oil to market tamed inflation concerns and crude futures. Oil futures declined 52 cents to $101.91 a barrel. Still, the risk of energy inflation loomed large as a prominent commodities strategist at JPMorgan warned it was becoming increasingly difficult to predict the course of the Middle East war and its effect on oil prices.

The yield on the two-year Treasury declined 0.038 percentage point to 4.688%. The yield on the 10-year Treasury note fell 0.057 percentage point to 4.946% from a 19-year high. The yield on the 30-year bond fell 0.050 percentage point to 5.296% .