The Dow Jones Industrial Average scores its seventh straight daily gain, as U.S. stocks seemed to shrug off another interest rate hike by the central bank of China.

The Dow jumped 71.52 points, or 0.59 percent, to close at 12,233.15. The S&P 500 index edged up 5.52 points, or 0.42 percent, to 1,324.57. The Nasdaq composite index gained 13.06 points, or 0.47 percent, to 2,797.05.

McDonald's Corp. (NYSE: MCD) gained 2.60 percent after posting higher-than-expected January sales. American Express (NYSE: AXP) gained 2.37 percent.

Earnings from Walt Disney Co. (NYSE: DIS) are due post-closing.

Oil futures slipped to $87.10 per barrel.

Gold surged 1.19 percent to $1363.60 as investors continue to worry about inflation.