US stocks pushed higher Thursday as oil prices cooled and Chinese e-commerce giant Alibaba soared on strong sales.
At the closing bell, the Dow Jones Industrial Average was at 17,925.50, up 83.52 points (0.47 percent).
The broad-based S&P 500 gained 7.90 (0.38 percent) at 2,088.05, while the tech-rich Nasdaq Composite Index jumped 25.90 (0.53 percent) to 4,945.54.
US crude prices fell back below $60 a barrel Thursday. Spiking oil prices contributed to a 1.6 percent loss in the S&P 500 in the prior two sessions.
Art Hogan, chief market strategist at Wunderlich Securities, said a drop in US Treasury bond yields also eased worries.
"If you look at some of the turmoil you saw in the market during the last few days, a couple of factors have settled down," Hogan said.
Alibaba jumped 7.5 percent as sales rose 45 percent to $2.81 billion. The company named chief operating officer Daniel Zhang as chief executive, replacing Jonathan Lu.
Yahoo, which has a stake in Alibaba, rose 5.2 percent.
Name (required) *
E-mail (required, but will not be published) *
Notify me of follow-up comments
Returning stars jostle alongside Olympic men's champion Yuzuru Hanyu and women's world title holder Evgenia Medvedeva as the pre-Olympic figure skating season…
The facade of the world's tallest building, the Burj Khalifa in the Gulf emirate of Dubai, was lit up in pink Thursday…
Embattled Donald Trump faced contempt from the most unlikely of places Tuesday — the Tokyo catwalk at a fashion show inspired by…
Powered and Developed by FilmMatters
Copyright © 2016 Arabtoday