Dow jumps 160 after two days of losses (ext)

NEW YORK (CNNMoney) -- U.S. stocks closed broadly higher Thursday, after two days of heavy losses on Wall Street, as investors cheered an upbeat outlook from economic bellwether FedEx.

Despite today's gains, trading has been volatile this week as investors remain jumpy about the nuclear crisis in Japan.

The Dow Jones industrial average (INDU) jumped 161 points, or 1.4%, to 11,775. The S&P 500 (SPX) rose 17 points, or 1.3%, to 1,274, and the Nasdaq Composite (COMP) gained 19 points, or 0.73%, to 2,636.

Investors typically view FedEx and UPS as good indicators about the economy because of their roles in transporting billions of dollars worth of goods every year.

"The news continues to be frustratingly unclear out of Japan," said Kate Warne, investment strategist with Edward Jones. "It's been a lot of selling and asking questions later, but there's more going on in the world than just Japan."

Meanwhile, the dollar fell against the euro and the British pound.

Oil for April delivery jumped $3.60 or 3.7%, to $101.56 a barrel.

Gold futures for April delivery rose $8.90 to $1,405.00 an ounce.