US stocks advance as technology, energy sectors gain; Orbitz jumps following Expedia deal

IndustriesAssociated Press

U.S. market indexes are moving higher in midday trading as technology and energy stocks notch gains.

Traders were encouraged Thursday by stronger earnings at U.S. companies, a big acquisition in the online travel business and news of a cease-fire deal in Ukraine.

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The Dow Jones industrial average rose 59 points, 0.3 percent, to 17,922 as of 11:45 a.m. Eastern.

The Standard & Poor's 500 index gained 13 points, or 0.7 percent, to 2,082. The Nasdaq rose 38 points, or 0.8 percent, to 4,839.

Cisco Systems jumped 9 percent after reporting better-than-expected earnings.

Energy stocks advanced as the price of oil rebounded following two days of heavy losses.

Orbitz soared 21 percent after rival online travel site Expedia said it would buy the company for $1.3 billion. Expedia jumped 16 percent.