US STOCKS-Wall St climbs with energy rebound, Pfizer deal
* Pfizer to buy Hospira for about $15 billion
* Michael Kors tumbles after results, outlook
* Crude climbs to push energy shares higher
* Indexes up: Dow 1.2 pct, S&P 1 pct, Nasdaq 1 pct (Updates to close)
By Caroline Valetkevitch
NEW YORK, Feb 5 (Reuters) - U.S. stocks climbed on Thursday as energy shares bounced with oil prices, while news Pfizer would buy Hospira in a massive deal further boosted the market.
The S&P energy index jumped 1.5 percent as oil prices rebounded sharply from the previous session. U.S. crude rose 4.2 percent to settle at $50.48 following increased violence in producer Libya and an expected boost in oil demand from China's central bank easing.
Some euro zone concerns eased as well. Greece proposed a bridging program until the end of May to allow time for debt talks, vowing to do everything in its power to avoid default. On Wednesday, the European Central Bank abruptly said it would stop accepting Greek bonds in return for funds.
"The market's trying to get its hands around what's going on in Greece. There was an expectation it might blow up. Now, certainly in the short term, it looks like we won't be seeing any fireworks," said Brad McMillan, chief investment officer for Commonwealth Financial in Waltham, Mass. Continuación...