Wall Street advanced on Thursday as investors mulled a mixed batch of corporate earnings and shifting geopolitical concerns.

All three major US stock indexes closed higher, with tech strength nudging the Nasdaq into the lead. But the small-cap Russell 2000 was the clear outperformer.

The indexes gained some momentum after the White House confirmed US President Donald Trump will meet President Xi Jinping next week as part of his trip through Asia.

Trade tensions between Washington and Beijing have been escalating in recent days, marked by tit-for-tat retaliatory measures announced by both sides. Confirmation that the two leaders would meet next week appeared to ease those tensions.

Trump announced sanctions against Russian oil companies, marking a sharp policy shift in ramping up the pressure on Moscow over its war in Ukraine, ratcheting up geopolitical strife and sending world oil prices jumping.

"The Trump-Xi confirmation is clearly positive," said Zachary Hill, head of portfolio management at Horizon Investments in Charlotte, North Carolina. "That's a good checkpoint for sentiment, which has been really up-and-down on trade and that's obviously playing a role today."

"Additionally, earnings have been really strong in general," Hill added. "And that's supporting the market from a fundamental perspective."

The Dow Jones rose 0.3 percent, to 46,734, the S&P 500 gained 0.6 percent, to 6,738, and the Nasdaq put on 0.9 percent, to 22,941.

Energy companies, buoyed by spiking crude prices in the wake of Trump's sanctions on Russian oil, enjoyed the biggest percentage gain among the 11 main sectors of the S&P 500, rising 1.3 percent.

Oil majors Exxon Mobil and Chevron advanced 1.1 percent and 0.6 percent, respectively. Independent oil refiner Valero Energy, which reported better-than-expected third-quarter profits, rose 7.0 percent. (Reuters)