The Dow Jones Industrial Average rose 102 points, or 0.36%, to 28,406, the S&P 500 gained 0.55% and the Nasdaq was up 0.63%.
IBM rose after the computer giant said it would spin off its infrastructure division, helping IBM concentrate its focus on hybrid cloud growth.
Shares of Regeneron Pharmaceuticals surged Thursday after President Donald Trump praised its coronavirus antibody treatment and the drugmaker said it would seek emergency use authorization from the Food and Drug Administration.
Airlines have begun furloughing or laying off workers following the expiration of a federal prohibition on job cuts tied to the $25 billion in federal aid they received earlier this year. Airlines said they would reverse the furloughs if they received additional help.