Wall Street ended a volatile session mixed Wednesday as investors welcomed new government data showing a reinvigorated industrial sector but wrestled with a jump in oil prices that briefly sent crude futures above $67 a barrel.
Crude oil futures surged after the Energy Department reported a larger-than-expected drawdown in the nation's reserves, although the report also showed a surprise surplus in gasoline inventories.
The inventory report cost the market early gains that were spurred by the Commerce Department's bullish report on durable goods, big-ticket manufactured items made to last at least three years. Orders for durable goods shot up 3.3 percent in August after falling 5.3 percent in July.
The Dow Jones industrial average rose 16.88, or 0.2 percent, to 10,473.09. The Standard & Poor's 500-stock index gained 1.23, or 0.1 percent, to 1216.89. The Nasdaq composite index fell 1.02, or 0.05 percent, to 2115.40.
General Motors rose 7 cents, to $30.84, after reaching a tentative contract deal with the Canadian Auto Workers and avoiding a strike just one hour before workers were to walk off the job.
DaimlerChrysler jumped $2, to $54.83. The company said it will cut 8,500 jobs in its Mercedes division as the automaker works to rein in costs and return the Mercedes unit to profitability.
Eastman Kodak fell 12 cents, to $24.89. The company said that its revenue from digital products would exceed expectations for the year but that operating profit would come in below the company's earlier targets because of a sluggish economy and high employee health care costs.
McCormick gained $1, to $32, after the spice manufacturer reported a modest rise in quarterly earnings on improved sales, beating Wall Street profit forecasts by a penny per share.
Paychex rose $3.16, or 9.3 percent, to $37.25, for the second-best performance in the S&P 500. The provider of payroll services for businesses raised its fiscal 2006 sales and profit forecasts.
Apple Computer fell $2.36, or 4.4 percent, to $51.08.
New York Stock Exchange composite index rose 26.45, to 7575.10.
American Stock Exchange index rose 12.84, to 1725.47.
Russell 2000 index of smaller-company stocks fell 3.13, to 656.04.
NYSE: 2.13 billion shares, up from 1.97 billion on Tuesday. Advancers narrowly outnumbered decliners.
Nasdaq: 1.73 billion shares, up from 1.64 billion. Decliners outnumbered advancers 7 to 5.
Crude oil for November delivery: $66.35, up $1.28.
Gold for current delivery: $469.70 a troy ounce, up from $462.60 on Tuesday.