NEW YORK -- Wall Street surged Thursday, extending its rally into a second session as tumbling energy prices bolstered an already upbeat mood that followed stronger-than-expected quarterly reports from big names like JPMorgan Chase and United Technologies. The Dow Jones industrial average rose more than 200 points, bringing its two-day advance to more than 480.

Investors got a double dose of good news after weeks of angst about the economy. Light, sweet crude fell $5.31 to settle at $129.29 a barrel; oil has dropped more than $15 in just the past three sessions. And early Thursday, three components of the Dow industrials -- JPMorgan Chase & Co., United Technologies Corp. and Coca-Cola Co. -- issued comments that generally indicated that their businesses are holding up despite sometimes difficult economic conditions.

The reports let investors put aside some of their worst fears about the economy. Still, Wall Street has had some up periods in the past few months as optimism grew -- only to fall back into a downturn as worries about the financial sector and the economy have welled back up.

The pullbacks in energy and profit reports from marquee names left investors in an acquisitive mood. According to preliminary calculations, the Dow rose 207.38, or 1.85 percent, to 11,446.66. The Dow on Wednesday surged 276 points, its best daily gain in three months, after oil fell and Wells Fargo & Co. posted better-than-expected earnings.

Broader stock indicators also rose Thursday. The Standard & Poor's 500 index advanced 14.96, or 1.20 percent, to 1,260.32, and the Nasdaq composite index rose 27.45, or 1.20 percent, to 2,312.30.