Stocks rose sharply on Wall Street Tuesday as traders turned their focus back to corporate news from the U.S. and hopes that the Federal Reserve will come up with a plan to jumpstart the economy.

The Dow Jones industrial average is up 95.51 points, or 0.8 percent, to 12,837.33.

The Standard & Poor's 500 index is up 13.20 points, or 1 percent, to 1,357.98.

The Nasdaq composite index rose 34.43 points, or 1.2 percent, to 2,929.76.

For the week:

The Dow is up 70.16 points, or 0.6 percent.

The S&P 500 is up 15.14, or 1.1 percent.

The Nasdaq is up 56.96, or 2 percent.

For the year:

The Dow is up 619.77 points, or 5.1 percent.

The S&P 500 is up 100.38, or 8 percent.

The Nasdaq is up 324.61, or 12.5 percent.