Intel fuels US stock market rebound

The US stock market has closed higher following corporate deal news and an improved forecast from chipmaker Intel.

US stocks have rebounded after three days of losses (AP)
US stocks have rebounded after three days of losses (AP)

The Standard & Poor's 500 index rose six points, or 0.3%, to close at 1,936.

The gain snapped a three-day losing streak for the index.

The Dow Jones industrial average climbed 41 points, or 0.3%, to 16,775. The Nasdaq gained 13 points, or 0.3%, to 4,310.

Intel jumped 7% after the chipmaker said sales of business computers have been stronger than expected, and raised its revenue forecast.

Oil added to gains from earlier in the week. Crude is rising because Iraq's insurgency threatens to disrupt crude exports. Oil edged up 38 cents to 106.91 dollars (£63.56) a barrel after rising more than two dollars on the day before.