(CNBC) U.S. stocks closed higher Thursday, ending a five-day losing streak with telecoms leading sector advancers.
The Dow Jones industrial average closed about 93 points higher with 3M contributing the most to gains. Earlier, the Dow fell nearly 169 points.
The S&P 500 closed about a third of a percent higher after earlier falling 1 percent. Energy was the only declining sector as U.S. crude oil futures settled down $1.80, or 3.75 percent, at $46.21 a barrel.
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The major indexes came off session lows as selling in the British pound eased against the U.S. dollar. to trade higher around $1.422 as of the U.S. stock market close.