Wall Street withstood the news of a terror plot targeting commercial airlines Thursday, with stocks moving higher on strong corporate earnings reports and a sharp drop in oil prices, the Associated Press reports.

European markets tumbled as British authorities said 24 people were arrested in a widespread plan to destroy numerous international flights, and the United States raised its terror alert to the highest levels ever for air travelers. But while U.S. and international airline stocks fell as a result, strong earnings reports from Dow component American International Group Inc. and others lent support to U.S. markets.

According to preliminary calculations, the Dow Jones industrial average rose 48.19, or 0.44 percent, to 11,124.37. Broader stock indicators also rose. The Standard & Poor’s 500 index added 5.86, or 0.46 percent, to 1,271.81, and the Nasdaq composite index gained 11.46, or 0.56 percent, to 2,071.74.

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Today’s Winners & Losers

With Airline safety the main issue of the day, OSI systems Inc. shares rose 9.1 percent to close the day at $19.14 while Hi-Shear Technology gained 7.3 percent to close at $10.45 and DTS Inc., who gained 7 Percent, closed the day at $17.04 a share.

On the other side was Impco Technologies Inc., which, because of sluggish earnings, dropped 8.8 percent and closed at $7.27. Electronic Clearing House Inc. lost 7.3 percent to finish the day at $15.05 and Mankind Corp. lost 6.1 percent to close at $15.54.