NEW YORK (AP) — Stocks are closing near an all-time high as technology, materials and energy companies notch big gains.
Cisco jumped 9 percent Thursday after reporting better-than-expected earnings. Energy stocks rose as the price of oil rebounded. Traders were also encouraged by an acquisition in the online travel business and news of a cease-fire deal in Ukraine.
The Dow Jones industrial average rose 110 points, 0.6 percent, to 17,972.
The Standard & Poor's 500 index gained almost 20 points, or 1 percent, to 2,088, just two points off its record high.
The Nasdaq composite rose 56 points, or 1.2 percent, to 4,857.
Orbitz soared 22 percent after rival online travel site Expedia said it would buy the company.
The price of oil jumped $2.37 to close at $51.21 a barrel in New York.