(CNBC) U.S. stocks closed higher on Thursday as the latest set of earnings reports gave investors a positive surprise.
The Dow Jones industrial average rose 71.40 points to close at 23,400.86. Nike led advancers on the Dow, rising 3.4 percent to add to its Wednesday gains after the company raised growth targets at its investor day.
The S&P 500 gained 0.13 percent to finish at 2,560.40. Union Pacific rose 5.7 percent after the company reported better-than-expected quarterly earnings and was S&P 500's best-performing stock.
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The Nasdaq composite fell 0.1 percent to 6,556.77 ahead of earnings reports from tech giants Alphabet, Microsoft and Amazon.