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It comes just seven months after it sunk to a 12 year low on March 9.

Strong earnings from JP Morgan Chase and Dell helped the rally.

The Dow is now at a break even point for the last 10 years.

"Things fell off a cliff at the end of last year, and now we're seeing some momentum especially in stock prices thats reflecting businesses that are doing better, businesses that are being able to make money at a time when we thought things were getting really bad," said Douglas Lane Associates Money Manager Sarat Sethi.

"It's simple. I wouldn't get too carried away with it. But it's always good to see a positive in an otherwise bleak scene," said one Wall Street worker.

Some financial analysts say it further supports claims that the economy is recovering from the devastating financial crisis.

However, employment rates and the housing market are still not showing significant signs of an upswing.

"Unemployment is horrible right now. Jobs are not there. For the people at home it's gonna take six to nine months to see what really happens," said one Wall Street worker.

While experts agree Wednesday's soaring market was definitely a positive sign, some think it will have more of a psychological impact than anything else by encouraging more investors to come into the market.