NEW YORK — Stocks broke a five-day losing streak yesterday as hope spread that China and the U.S. are taking convincing action to restart their economies.

Prices for key commodities such as oil and metals also soared, lifting shares of industrial companies like Alcoa Inc. and Caterpillar Inc.

The rally was broad, lifting shares in every industry except for financial services. Major indicators surged more than 3 percent during the day before ending with gains of more than 2 percent.

The advance followed five straight sessions of unrelenting selling that left major indexes at levels not seen in more than a decade. That left stocks overdue for a bounce, traders said.