Stocks gain on banks, economy

Apr 1 - Wall Street posted sharp gains of more than 3 percent on optimism investment banks are cleaning up their balance sheets and hopes the economy is stabilizing. Blue chips surged 391 points, or nearly 3.2 percent, to 12,654. The S&P 500 jumped 47 points, or about 3.6 percent, to 1,370. The Nasdaq rallied 83 points, or roughly 3.7 percent, to 2,362.