Stocks rally 2% on energy boost

U.S. stocks rallied on Wednesday, fueled by a rebounding energy sector, as investors regained confidence following the previous session's huge sell-off. On Tuesday, stocks ended sharply lower, with most of the decline coming in the final hour of trading as investors overlooked better-than-expected economic reports and instead worried about the global economic recovery.

On Tuesday, energy shares declined - with BP plunging 15% - after the company's latest attempt to plug the oil spill in the Gulf of Mexico failed and Attorney General Eric Holder said there would be a criminal investigation of the spill.