Wall Street rebounds after sell-off, but down for week

US stocks rose, bouncing back from a three-day sell-off as oil prices stabilized, but unease over the Libyan rebellion could be enough to keep buying in check.

The Dow Jones industrial average gained 61.95 points, or 0.51 percent, to end at 12,130.45. The Standard & Poor's 500 Index advanced 13.78 points, or 1.06 percent, to finish at 1,319.88. The Nasdaq Composite Index rose 43.15 points, or 1.58 percent, to close at 2,781.05.

European shares bounced after a week-long sell-off, as steady oil prices eased concerns over inflation, and strong company results gave the markets a boost.

The pan-European FTSEurofirst 300 index of top shares closed up 1.2 percent at 1,159.60 points, but still recorded the biggest weekly fall since July 2010 after civil unrest in Libya caused a spike in oil prices and a stock market sell-off.

Japan's Nikkei average rose for the first time in four days, as a sharp pullback in oil prices calmed concerns that a recent surge could derail the global recovery and nudged investors back towards riskier assets.

The Nikkei added 0.7 percent, or 74.05 points, to 10,526.76, led by blue-chip exporters as the yen stabilised below three-week highs hit yesterday. For the week, it lost some 300 points, or 2.9 percent despite climbing to a 9-½ month high on Monday.