NEW YORK, July 22 (Xinhua) -- Wall Street rallied on Thursday as strong earnings and solid European economic data gave a boost to Wall Street.

Caterpillar Inc., 3M Co., UPS Inc. and AT&T Inc. all topped earnings forecasts and raised their outlooks for future profit.

The National Association of Realtors said existing home sales dropped 5.1 percent to a 5.37 million annual rate, but the decline was not as steep as analyst had expected.

The Dow Jones industrial average jumped 201.77 points, or 1.99 percent, to 10,322.30. The Standard & Poor's 500 index surged 24. 08 points, or 2.25 percent, to 1,093.67 and the Nasdaq rallied 58. 56 points, or 2.68 percent, to 2,245.89.