Wall Street advanced as geopolitical concerns eased, allowing investors to shift their attention to better-than-expected US corporate earnings and rising optimism about the outlook for the world's largest economy.
In late afternoon trading in New York, the Dow Jones Industrial Average gained 0.17 per cent, the Standard & Poor's 500 Index rose 0.33 per cent, while the Nasdaq Composite Index advanced 0.67 per cent.
Gains in shares of Intel and Caterpillar, both up 1.3 per cent most recently, led the Dow higher, outweighing declines in shares of Exxon Mobil and Wal-Mart, down 1 per cent and 0.3 per cent respectively.
"With the Russia-Ukraine situation, it's going to be a step-by-step process, hopefully in the right direction," Veronika Pechlaner, who helps oversee US$2.3 billion at Jersey, Channel Islands-based Ashburton, told Bloomberg News. "What you want to see are no further sanctions, certainly no more military action and potentially some news on the inquiry into the plane that came down."
Shares of Priceline Group gained, last up 2.9 per cent, after the company reported better-than-expected quarterly results and said third-quarter travel bookings may rise as much as 29 per cent.