Concerns over rising interest rates have dogged Wall Street of late, and stocks had stumbled on Wednesday after minutes from the Federal Reserve's January meeting showed the central bank's rate-setting committee grew more confident on the need to keep raising rates.
European shares dipped. A flurry of corporate results failed to lift sentiment after speculation about US interest rates soured risk appetite globally.
"The fact that there wasn't a big surprise or revelation was likely calming to the market". Losses came as the Fed minutes pointing to the "increased likelihood" of more interest-rate hikes to come triggered fresh volatility, with the yield on the 10-year Treasury note hitting a fresh four-year high of 2.95%.
Expectations for a quarter-point hike at the Fed's next meeting in March are now 93.5 percent, according to Thomson Reuters data. The Fed has forecast three rate hikes in 2018.
US crude CLcv1 rose 1.65 percent to $62.70 per barrel and Brent LCOcv1 was last at $66.30, up 1.35 percent on the day. Industrials . SPLRCI , up 1.45 percent, were the best performing on the 11 major S&P sectors on Wednesday.
The pan-European FTSEurofirst 300 index .FTEU3 lost 0.15 percent and emerging market stocks fell 0.64 percent.
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The Dow Jones Industrial Average rose 164.7 points, or 0.66 per cent, to 24,962.48, the S&P 500 gained 2.63 points, or 0.10 per cent, to 2,703.96, and the Nasdaq Composite dropped 8.14 points, or 0.11 per cent, to 7,210.09.
The prospect of higher rates and an unexpected fall in January US existing home sales dented the real estate sector, off 1.81 percent. The yield was hovering at 2.94% on Thursday.
The dollar index.DXY fell 0.25 percent, with the euro EUR= up 0.36 percent to $1.2326.
MSCI's gauge of stocks across the globe.MIWD00000PUS shed 0.10 percent.
Advancing issues outnumbered declining ones on the NYSE by a 1.09-to-1 ratio; on Nasdaq, a 1.41-to-1 ratio favoured decliners.