Stock markets stampeded higher on Wednesday and major Wall Street benchmarks touched their highest levels in 11 months on optimism that an economic rebound was under way.

Financial shares like credit-card companies and regional banks led a buying spree that lifted most corners of the financial markets.

Investors anticipating a resurgence in industrial output clamored to snap up crude oil, copper and other raw materials used to feed factories. Those who expect inflation pushed the price of gold sharply higher. And optimistic stock traders helped to send the Dow 100 points higher.

At the close, the Dow Jones industrial average was up 108.30 points or 1.12 percent, to 9,791.71, and the broader Standard &&8; Poor&S217;s 500-stock index was 1.5 percent or 16.13 points higher at 1,068.76, climbing to its highest levels since early October. The Nasdaq rose 1.45 percent or 30.51 points, to 2,133.15.

&S220;We&S217;ve been riding this thing for a long time,&S221; said Bill Strazzullo, chief market strategist at Bell Curve Trading. &S220;You notice that the sell-offs never last more than a couple days. We&S217;re going to stay with it. We still think there&S217;s a little bit more to go.&S221;

Mr. Strazzullo said his firm was eyeing benchmarks of 1,100 and 1,150 on the S.&&8;P. 500 (it is currently trading at about 1,060) as moments to pause and take some profits and reassess whether the markets seem primed for more gains.

It has been a good week for the bulls on Wall Street.

A new report on industrial production showed that factories, mines and utilities ramped up their output for a second month in August, a harbinger that a recovery was under way. On Tuesday, the Federal Reserve chairman, Ben S instant payday loans. Bernanke, said that the recession was most likely over, though he warned of a plodding recovery.

&S220;You&S217;re getting more evidence that the economy&S217;s turning,&S221; said Anthony Dwyer, equity market strategist at FTN Equity Capital Markets. &S220;This is going to be a big recovery because it was a big decline.&S221;

Shares of Bank of America and JPMorgan Chase were each up more than 2 percent, and a closely watched index of regional bank shares was up more than 5 percent.

And as stocks surged, Wall Street&S217;s gold rush intensified.

The price of gold leaped $13 to $1,018 an ounce as traders bet that prices of precious metals would continue to climb as the dollar weakened and the economy healed. Investors rushed to buy crude oil, copper and other commodities that could weather an outbreak of inflation.

Some investors believe that inflation &<51; or at least, the fear of inflation &<51; is seeping back into the economy as factories restart production and industrial output rebounds. The government reported on Wednesday that retail prices rose 0.4 percent last month, largely because of a spike in gasoline costs.

Even though the Federal Reserve expects inflation to remain under wraps with so much slack in the economy and millions of people out of work, investors anticipating a surge in prices and a weaker dollar are betting heavily on commodities and other currencies. Crude-oil prices rose to $72 a barrel in New York, and the dollar&S217;s value slumped against six major currencies, dipping to its lowest levels in almost a year.

Gold and Stocks Move Sharply Higher