Stocks closed higher on Thursday with triple digit gains for the blue chips as the S&P 500 and Nasdaq both closed up about 1%. Investors cheered the cease-fire agreement between Russia and Ukraine. The news also helped oil to break its losing streak. Crude futures rose 2.4% to settle $51.21 a barrel. American Express (AXP) was a big drag for the Dow. Shares dropped after the company lost its exclusivity contract with Costco (COST). Shares of the wholesaler weren't as affected and managed to close with small gains in the session. Apple (APPL) added to gains after activist investor Carl Icahn said the more realistic valuation puts Apple at $1.3 trillion.
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