Stocks closed mostly higher Thursday on Wall Street after much of a midday rally faded away by the closing bell, the AP reports. Industrial stocks contributed the most to the market's gains. United Technologies rose 3.3% a day after its CEO said the company may split up. Energy companies also rose. Chesapeake Energy jumped 21.7%, the most in the Standard & Poor's 500 index, after reporting strong earnings. Investors were relieved to see bond yields pull back from the four-year highs they reached a day earlier. The yield on the 10-year Treasury fell to 2.92%.
The S&P 500 rose 2 points, or 0.1%, to 2,703. The Dow Jones industrial average climbed 164 points, or 0.7%, to 24,962. The Nasdaq slipped 8 points, or 0.1%, to 7,210.