Nasdaq 100 Leaders and Laggards: UAUA SIRI

Oil fell nearly $5 per barrel when China revealed plans to raise caps on gasoline and diesel fuel prices, a move that may dampen global demand.

UAL Corp., which operates United Airlines, gained $1.56, or 23.8 percent, to $8.11, as fuel is one of an airline's biggest costs.

The index, which includes 100 of the largest nonfinancial securities listed on the Nasdaq Stock Market, advanced 31.59 points, or 1.6 percent, to 1,982.69. The broader Nasdaq composite gained 32.36, or 1.3 percent, to 2,462.07.

Broadcom Corp. rose along with other chip makers, gaining $1.92, or 7.6 percent, to $27.22.

Another chip maker, Marvell Technology Group Ltd., increased $1.15, or 7 percent, to $17.50.

On the losing side, shares of Sirius Satellite Radio Inc. slipped 30 cents, or 12.4 percent, to $2.13 when a Goldman Sachs analyst cut his price target on the satellite radio company.

Leap Wireless International Inc. lost $2.14, or 3.9 percent, to $52.51, following news that the company will offer $400 million in senior notes.

Level 3 Communications Inc. declined 6 cents to $3.71.