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February 06 2013, 08:17AM

US stocks jumped on Tuesday, recovering much of Monday's losses and picking up momentum from solid economic indicators.

At the closing bell, the Dow Jones Industrial Average was up 98.30 points (0.71 per cent) to 13,978.38.

The S&P 500 index climbed 15.51 (1.04 per cent) to 1,511.22, while the tech-rich Nasdaq Composite Index rose 40.42 (1.29 per cent) to 3,171.59.

In a mid-afternoon market update, Charles Schwab & Co attributed on Tuesday's "solidly higher" returns to economic reports showing US services sector activity rising and the contraction in eurozone business activity decelerating.