Stocks end higher, bouncing back from a drop the day before

May 1, 2015 at 4:08 p.m. | Updated May 1, 2015 at 4:20 p.m.

by Associated Press

FILE - In this Monday, Aug. 8, 2011, file photo, a pedestrian walks past the New York Stock Exchange in New York. U.S. stocks headed higher in early trading, Friday, May 1, 2015, as the market bounces back from a steep decline the day before. Most Asian and European markets are closed for May 1, known as Labour Day in most of the world. (AP Photo/Jin Lee, File)
FILE - In this Monday, Aug. 8, 2011, file photo, a pedestrian walks past the New York Stock Exchange in New York. U.S. stocks headed higher in early trading, Friday, May 1, 2015, as the market bounces back from a steep decline the day before. Most Asian and European markets are closed for May 1, known as Labour Day in most of the world. (AP Photo/Jin Lee, File)

NEW YORK (AP) - Stocks are closing higher on the first day of May, erasing much of a loss from the day before.

Expedia jumped 8 percent Friday after the online travel company reported sales that beat analysts' estimates. LinkedIn plunged 19 percent after releasing a disappointing forecast.

The Dow Jones industrial average rose 183 points, or 1 percent, to 18,024. It fell 195 points the day before.

The Standard & Poor's 500 index rose 22 points, or 1.1 percent, to 2,108. The Nasdaq composite rose 63 points, or 1.3 percent, to 5,005.

Most Asian and European markets were closed for a holiday.

Oil slipped 48 cents, or 0.8 percent, to $59.15 a barrel. It soared 20 percent in April.

Bond prices fell. The yield on the 10-year Treasury note rose to 2.11 percent.

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