Stocks rose Thursday after positive economic reports were issued and the price of oil fell to a five-month low.

Wall Street welcomed a report that the manufacturing sector expanded at a slower pace in November. The report, from the Federal Reserve Bank of Philadelphia, showed that prices in the region's manufacturing sector were steady or falling.

An earlier report showed that output from manufacturing, mines and utilities rose 0.9 percent last month as refineries and oil and natural gas platforms began production again after shutdowns caused by hurricanes Katrina and Rita. The report quelled concerns that the hurricanes had done lasting damage to the economy.

The Dow Jones industrial average rose 45.46, or 0.43 percent, to 10,720.22. The Nasdaq composite index rose 32.53, or 1.49 percent, to 2220.46, surpassing its previous 52-week high, reached in July. The Standard & Poor's 500-stock index rose 11.59, or 0.94 percent, to 1242.80.

Falling oil prices also boosted stocks. A barrel of light crude settled at $56.34, down $1.54 on the New York Mercantile Exchange and its lowest level since June 15.

Bonds were flat, with the yield on the 10-year Treasury note at 4.47 percent. The U.S. dollar was mixed against other major currencies in European trading. Gold prices were higher.


General Motors rose $1.34, to $22.63. GM hit an 18-year low Wednesday.

Google rose $5.30, to $403.45. Reaction was positive to a new database service.

Altria fell $2.11, or 2.9 percent, to $71.78. Goldman Sachs said the company's planned breakup may come much later than expected.

Barnes & Noble the nation's leading bookseller, rose $1.53, to $39.98, after it said it had a slim profit in the third quarter, down sharply from a year ago but beating analysts' expectations, and boosted its profit outlook for the full year.

Applied Materials fell 43 cents, to $17.34. The world's largest maker of semiconductor equipment said its profit fell 46 percent in its fourth quarter.


New York Stock Exchange composite index rose 82.14, to 7601.12.

American Stock Exchange index rose 11.54, to 1700.84.

Russell 2000 index of smaller-company stocks rose 12.50, to 667.14.


NYSE: 2.29 billion shares, up from 2.16 billion on Wednesday. Advancers outnumbered decliners 3 to 1.

Nasdaq: 1.84 billion shares, up from 1.71 billion. Advancers outnumbered decliners 3 to 1.


Crude oil for December delivery: $56.34, down $1.54.

Gold for current delivery: $486.20 a troy ounce, up from $478.30 on Wednesday.