The Dow on Friday registered its biggest daily percentage gain since November 2020 with the market rebounding for a second day from the sharp selloff leading up to Russia's military operations in Ukraine.

All 11 of the major S&P 500 sectors ended up on the day. Oil prices fell below $100 a barrel, compared with Brent topping $105 a barrel on Thursday, easing some concerns about higher energy costs.

Some strategists say stock-selling may have been overdone. The S&P 500 confirmed earlier this week it was in a correction when it ended down more than 10 percent from its January 3 record closing high.

"It sure feels a lot more like we've really exhausted sentiment in this correction," said Jim Paulsen, chief investment strategist at The Leuthold Group in Minneapolis, noting that economic fundamentals and corporate health remain favorable.

The Dow Jones Industrial Average rose 834.92 points, or 2.51 percent, to 34,058.75, the S&P 500 gained 95.95 points, or 2.24 percent, to 4,384.65 and the Nasdaq Composite added 221.04 points, or 1.64 percent, to 13,694.62.

For the week, the Dow was down 0.1 percent, the S&P 500 was up 0.8 percent and the Nasdaq was up 1.1 percent.

The S&P 500 posted 15 new 52-week highs and no new lows; the Nasdaq Composite recorded 39 new highs and 66 new lows.

Volume on U.S. exchanges was 12.47 billion shares, compared with the 12.1 billion average for the full session over the last 20 trading days.

(With input from Reuters)