Around the World's Markets: New York

STOCKS CLOSED higher in the absence of bad news. The Dow Jones industrial average ended up 30.64 points at 7,968.78 after soaring more than 100 points in late afternoon. In the broader market, advances led declines 18 to 11 on active volume of 787m shares. The technology-laced Nasdaq composite index rose 31.55 points to 1,541.00.

Among the latest corporate earnings, Pfizer rose 11/16 to 967/16 after the drug-maker said its earnings more than doubled in the latest quarter.