Wall Street finishes higher in afternoon rally as oil gains

NEW YORK - U.S. stocks enjoyed a late afternoon rally and closed higher on Thursday as an upturn in oil prices and a rally in Apple and Boeing shares helped offset some disappointing earnings and lingering questions over U.S. monetary policy.

Recent Business News

Cheaper gasoline helps Visa report better-than-expected profit

- Visa Inc , the world's largest credit and debit card company, reported a better-than-expected quarterly profit on Thursday as a strengthening U.S. job market and cheaper gasoline prices encouraged people to spend.

6:39pm EST

Occidental CEO jokes Chevron is an unsuitable buyer; lifts stock

WILLISTON, N.D. - Occidental Petroleum Corp Chief Executive Stephen Chazen quipped on Thursday that his larger rival Chevron Corp was too poor to buy the No. 4 U.S oil producer, but the offhand remark sent Oxy's stock up anyway.

6:16pm EST

Alibaba quarterly revenue disappoints, shares fall

BEIJING/SHANGHAI - Alibaba Group Holding Ltd's shares fell more than 10 percent early on Thursday, wiping more than $25 billion of market value after third quarter revenue at the Chinese internet giant fell short of analysts' expectations. | Video

6:34pm EST

Broadcom's fourth-quarter results exceed expectations

SAN FRANCISCO - Broadcom Corp posted fourth-quarter results on Thursday that exceeded Wall Street's expectations as the Apple supplier increased its focus on Wi-Fi and broadband chips, sending its shares higher.

5:14pm EST

Gap cuts design chief job as sales slowdown continues

CHICAGO - Gap Inc said on Thursday it has eliminated the role of creative director Rebekka Bay, the latest in a slew of changes in strategy as the apparel retailer attempts to revive sagging sales.

6:44pm EST


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