US stocks extend gains on lower oil prices, Cisco outlook

NEW YORK (AFP) - US stocks closed higher Wednesday as oil prices fell again, offering inflation relief, and Cisco's bright outlook lifted sentiments.

The Dow Jones Industrial Average climbed 39.49 points (0.34 percent) to 11,655.26 at the closing bell while the tech-heavy Nasdaq composite added a hefty 28.54 points (1.21 percent) at 2,378.37.

The broad-market Standard & Poor's 500 index rose 4.43 points (0.34 percent) to 1,289.31, according to preliminary closing figures.

The major indexes extended their gains from a massive rally Tuesday in part fueled by declining crude oil prices.

The benchmark New York oil futures contract closed 59 cents lower Wednesday at 118.58 dollars a barrel. It is about 20 percent lower than the record-high peak above 147 dollars reached on July 11.