US stocks turn higher as oil rebounds; Nike, Darden report strong results

NEW YORK, N.Y. – Stocks are closing higher, led by gains in energy companies as the price of oil recovers.

Strong earnings from Olive Garden owner Darden Restaurants and Nike also helped lift the market on Friday.

The Nasdaq composite index edged closer to the all-time high it set at the height of the dot-com bubble.

The Dow Jones industrial average rose 168 points, or 0.9 per cent, to 18,127.

The Standard & Poor’s 500 index rose 18 points, or 0.9 per cent, to 2,107.

The Nasdaq composite rose 34 points, or 0.7 per cent, to 5,026. The Nasdaq is within 23 points of its all-time high in March 2000.

Crude oil rose $1.76 to $45.72 a barrel in New York.

Bond prices rose. The yield on the 10-year Treasury note fell to 1.93 per cent.