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Stocks posted big gains after Federal Reserve Chairman Ben Bernanke said the central bank was ready to step in if the U.S. economy showed further signs of weakening.

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Renewed fears of a so-called “double-dip” recession are weighing on investors, spooking consumers and slowing businesses from hiring.

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Stocks climbed Wednesday after key reports on private sector hiring and the services industry provided reassurances that the economy continues to grow.

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Stocks rose for a third day as investors welcomed a report that first-time jobless claims fell more than expected last week.

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An increase in regional manufacturing pushed the stock market to its third straight advance and offset concerns about lower sales at Wal-Mart.

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Better news from the housing industry sent stocks higher Tuesday, including an increase in the number of people with contracts to buy homes.