(CNBC) U.S. stocks closed higher Thursday, as a rise in oil and gains in Facebook outweighed pressure from declines in biotech stocks and concerns about economic growth. ( Tweet This )
The major averages ended off session highs but recovered from an intraday dip into negative territory.
The Nasdaq composite outperformed, closing nearly 0.9 percent higher as Facebook leaped 15.5 percent and Amazon gained 8.9 percent ahead of its earnings report. Apple closed up 0.7 percent.
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The Dow Jones industrial average closed up 125 points after earlier rising 157 points. Caterpillar, Goldman Sachs and Chevron were the top contributors to gains in the index.