Investor relief was spread across the board with the Dow and S&P 500 finishing higher as well.

Global oil prices tumbled as supply concerns eased.

The Middle East is going to be a wild card for markets for some time to come, warns Gerber Kawasaki president and CEO Ross Gerber.

SOUNDBITE (ENGLISH): ROSS GERBER, PRESIDENT AND CEO, GERBER KAWASAKI, SAYING:

"I think investors thinking that this is sort of the end of the story and I can go back to just investing and not worry about Iran - I think that's a big mistake. So we expect hightened volatility and I think investors should position their portfolio for this volatility and use this oppportunity to rebalance so that you can be comfortable if there is going to be a 10 or 15 percent correction. Are you comfortable with your position right now. So I think it also bodes well for investments like gold."

Boeing shares dropped after an Ukranian Airlines Boeing 737 crashed after take-off from Tehran. Engines used in the plane were made by a co-owned unit of General Electric. That stock fell as well. All 176 people on board were killed. The 737-800NG used by the airline was only three years old. It's one of the world's most-flown planes and is a different model from the 737MAX that's been grounded for nearly a year after two deadly plane disasters. Intelligence souces told Reuters the likely cause of Wednesday's crash was a technical malfunction.

Meanwhile, New economic data lent some optimism to the overall market. Private hiring surged in December by a bigger-than-expected 202,000, according to payroll processor ADP. Investors will get the Labor Department's more comprehensive December jobs report on Friday.