Updated from 4:06 p.m. EDTStocks finally delivered on an early-session bounce Tuesday, extending gains throughout the day amid more positive earnings and economic reports, leading investors to wonder whether conditions were ripe for a sustained rally off some of the lowest price levels of 2004. The Dow Jones Industrial Average reclaimed its 10,000 mark, adding 123.22 points, or 1.24%, to 10,085.14; the S&P 500 rose 10.76 points, or 0.99%, to 1094.83; and the Nasdaq Composite closed up 30.08 points, or 1.64%, to 1869.10. Both the S&P and Nasdaq were coming off new lows for the year. The 10-year Treasury note was trading down 29/32 to yield 4.60%, while the dollar was higher against the yen and the euro. In New York, oil futures were trading up 36 cents to $41.80 a barrel. "In the last few weeks, we've been moving towards the low end of the trading range where people who feel that earnings fundamentals are good enough that the market shouldn't weaken more step in, but at the upper end, they don't have the conviction to take it to higher levels," said Subodh Kumar, chief investment strategist with CIBC World Markets. Volume was decent for a summer session, with more than 1.6 billion shares traded on the New York Stock Exchange and 1.7 billion on the Nasdaq, and advancers were around double the decliners on both exchanges. "Despite the point gains you're seeing today, the jury is still out on whether this is just a relief rebound rally or the start of something significant," said Richard Dickson, senior strategist at Lowry's Reports. "Certainly, I'd give it a few days, but if by the end of the week, demand and volume don't show a significant rise and the market is still going up, then I'd have to say that we're probably looking at something like the rebound off the March lows that lasted a couple of weeks and then fizzled out." Particular strength showed up in biotechnology, retail, oil services and technology software and hardware. On the economic front, the Conference Board said its consumer confidence index jumped more than expected in July to a two-year high, at 106.1, up from a revised 102.8. Separately, existing home sales rose unexpectedly in June, according to a government report. Sales reached an annualized 6.95 million, up from a revised 6.81 million in May. Economists expected the figure to drop to 6.65 million. Brian Williamson, an equity trader with Boston Company Asset Management, noted that stocks picked up some early momentum after the news came out about consumer confidence, but he said gains were mainly due to a technical bounce off the market lows. "After a lot of profit-taking, I think the market finally found a level where we'll start seeing a lot of buying," Williamson said.