U.S. stocks are finishing with big gains thanks to stronger-than-expected economic data and hopes for an end to Ireland's debt crisis.

The Federal Reserve Bank of Philadelphia said factory orders rose in the Mid-Alantic region.

Financial officials in Ireland also acknowledged that the country will likely receive a bailout from the European Union.

General Motors ended up 3.6 percent in a well-received IPO.

According to preliminary calculations, the Dow Jones industrial average rose 173, or 1.6 percent, to close at 11,181.

The S&P 500 rose 18, or 1.5 percent, to 1,197. The Nasdaq gained 38, or 1.6 percent, to 2,514.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was 1.2 billion shares.