CNBC' s Mary Thompson - Strength in the Dollar, the financial stocks and Apple contributed to a second straight day of gains on Wall Street, the Dow rose 85 points to finish at 12,848 the S&P rose almost 9 points and the NASDAQ finished up 23 points, its highest close since January.

A big decline in weekly unemployment claims eased concerns about weakness in the US economy, and the Dollar rallied on expectations that the Fed’s rate cut cycle is nearing an end, the strong dollar in turn, pressured commodities like oil and gold.

Financial shares moved higher after brokerage giant Merrill Lynch said that it would maintain its dividend and Apple led the gains on the NASDAQ, despite the conservative profit forecast to gave for the current quarter.