By Kate Gibson, MarketWatch NEW YORK (MarketWatch) -- U.S. stocks rallied Wednesday, bouncing back after a five-session losing run, with aluminum maker Alcoa Inc.'s unexpected first-quarter profit cheering investors. Aloca's surprise profit "speaks to what is happening elsewhere," such as China and Brazil, said Frances Hudson, an Edinburgh-based strategist at Standard Life Investments. "The world might be moving into a sustainable recovery even if China's growth is slowing." That said, "the market is not trading on high volumes or great convictions, so the things moving the market seem to be relatively flimsy. We've got a long way to go from Alcoa's earnings figures to having the whole of the S&P 500 reporting," she added. The Dow Jones Industrial Average (DJI) rose 112.6 points, or 0.9%, to 12,825.6, as shares of Alcoa (AA) rallied the most among the index's 30 components, up 8.4%. The S&P 500 Index (SPX) gained 14.24 points, or 1.1%, to 1,372.83, with financial firms leading among its 10 major industry groups. The Nasdaq Composite (RIXF) added 36.74 points, or 1.2%, to 3,027.96. For every stock declining roughly five gained on the New York Stock Exchange, where 195 million shares traded as of 10:50 a.m. Eastern. Investor sentiment also drew a lift after a European Central Bank official reportedly indicated the ECB could resume its bond-purchase program. Half a dozen European countries sold debt Wednesday, with Germany drawing bids for less than its maximum target and Italy matching its objective. Yields on Spanish and Italian 10-year debt declined. On Wednesday afternoon, the Federal Reserve releases its Beige Book business survey.