Global Stocks: U.S. stock indices closed higher

U.S. stock indices climbed on Thursday as oil prices rose. Stocks were also supported by European Central Bank President Mario Draghi's comments, which raised expectations for monetary policy easing in March.

The Dow Jones Industrial Average rose 115.94 points, or 0.7%, to 15,882.68. The S&P 500 gained 9.66 points, or 0.5%, to 1,868.99 (7 out of its 10 sectors rose). The Nasdaq Composite edged up 0.37 point, or 0.1%, to 4,472.06.

Data from Philadelphia Fed Manufacturing Survey showed that the index of economic activity slightly rose to -3.5 in January from -5.9 in December. Many economists had expected a more modest increase to -5.0.

This morning in Asia Hong Kong Hang Seng rose 2.23%, or 414.15, to 18,956.30. China Shanghai Composite Index climbed 0.10%, or 2.90, to 2,883.38. The Nikkei surged 5.10%, or 816.53, to 16,833.79.

Asian stock indices rose on gains in oil prices. Japanese stocks jumped with energy companies posting strong gains. Stocks of Inpex Corp and Japan Petroleum Exploration Co rose by 3.7% and 4.3% respectively.

Chinese stocks traded mixed after the recent selloff.