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US stock indexes rise; Big gain in Visa drives Dow Jones industrial average higher

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NEW YORK — U.S. stock indexes are closing higher as big companies turn in encouraging quarterly results.

The Dow Jones industrial average rose more than 200 points Thursday, thanks in large part to a big gain in Visa, the Dow's highest-priced stock.

The Standard & Poor's 500 index gained 12 points, or 0.6 percent, to 1,994. The Nasdaq composite rose 16 points, or 0.4 percent, to 4,566.

PHOTO: FILE - In this Oct. 8, 2014 file photo, a Wall Street address is carved in the side of a building in New York. U.S. stocks are drifting in early trading Thursday, Oct. 30, 2014, as a parade of big companies turn in quarterly results. A strong gain for Visa pulled the Dow Jones industrial average higher. (AP Photo/Mark Lennihan, File)
FILE - In this Oct. 8, 2014 file photo, a Wall Street address is carved in the side of a building in New York. U.S. stocks are drifting in early trading Thursday, Oct. 30, 2014, as a parade of big companies turn in quarterly results. A strong gain for Visa pulled the Dow Jones industrial average higher. (AP Photo/Mark Lennihan, File)

The Dow Jones industrial average rose 221 points, or 1.3 percent, to 17,195.

Visa announced earnings late Wednesday that beat analysts' expectations. The company also announced a big share buyback program.

Auto parts maker BorgWarner dropped 4 percent after reporting results that missed analysts' expectations.

The price of the 10-year Treasury note edged up. Its yield fell to 2.31 percent.

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