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(Updated with Google, IBM earnings.)



) -- The major averages rose into the close Thursday with the Dow staying atop the psychological 10,000 level as increases in energy stocks helped to balance selling in financials.

After a mostly lower session, the

Dow Jones Industrial Average

ultimately rose 47.08 points, or 0.5%, to 10,062.94, while the

S&P 500

added 4.54 points, or 0.4%, to 1,096.56. The


also advanced 1.06 points, or 0.05%, to 2,173.29.

Immediately after the close,


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both reported earnings that beat on the top and bottom line.


shares traded more than 1% higher in the post market, while


, which also raised its outlook, saw shares fall more than 3% in after-hours activity.

Energy stocks were at the forefront of advances during the regular session, with the NYSE Energy Sector Index and Philadelphia Oil Service Sector Index gaining 1.5% and 2.2%, respectively. Those moves came as crude oil futures surged more than $2 to $77.58 a barrel on data released by the U.S. Department of Energy showing gasoline stocks fell by 5.2 million-barrels last week, far more than the 700,000-barrel drop expected

Financials continued to be the laggards, with the KBW Bank Index losing 0.7% after a duo of high-profile earnings from

Goldman Sachs

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"It's light, well managed profit taking before options expirations tomorrow," said Peter Cardillo, chief market economist for Avalon Partners of the dip earlier in the session. "But basically I just think it's a pause after yesterday's rally and the fact that the Dow is trying to stay above the 10,000 is a good indication that it's nothing more than a little technical setback, which is probably healthy for the market."

"It's just a question of, do we have the potential of some pause here? A little profit taking, sure, that may be what's unfolding," said Michael Strauss, chief economist and market strategist for Commonfund. "But you have to respect the trend that we're in, just like you had to respect the trend that we were in a year ago."

Goldman Sachs

reported third-quarter profit of $3.19 billion, or $5.25 a share, handily beating the predictions of analysts. Still, shares traded more than 2% lower.


also fell, by more than 4%, after it beat estimates with a narrower-than-expected loss of 27 cents a share. Revenue came in at $20.4 billion, slightly better than analysts were expecting. Credit costs totaled $8 billion, however, including an addition of $802 million to its net loan loss reserves.

Earnings came in addition to a string of economic reports, most brighter than many economists expected. The goverment said weekly jobless claims fell to 514,000 from 524,000, better than the 520,000 consensus. Continuing claims also declined, to 5.99 million, undercutting expectations.

Also on the better-than-expected side, the Federal Reserve Bank of New York's Empire Manufacturing Survey index jumped unexpectedly to a reading of 34.57, up from 18.88.

However, the Philadelphia Fed said its monthly index of regional manufacturing activity fell slightly more than expected, to 11.5 this month from 14.1 in September as expansion slowed.

Elsewhere, the consumer price index, the most widely cited guage of inflation, increased by 0.2% in September, in line with expectations. The core reading, which factors out food and energy, increased slightly more than expected, also by 0.2%.

On Wednesday, the Dow closed above 10,000 -- an important psychological level for many Wall Street observers -- for the first time since Oct. 3, 2008, as stocks rallied on earnings from

JPMorgan Chase

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In other earnings Thursday,


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the world's biggest makerof mobile phones, swung to a third-quarter loss of 559 million euros($834 million) as sales declined 20% to 9.81 billion euros and thecompany recorded a number of writedowns.

Stocks overseas were mixed. In Europe, London's FTSE 100 fell 0.6% while the DAX in Frankfurt gave up 0.4%. In Asia, the Nikkei advanced 1.8%, and the Hang Seng in Hong Kong advanced 0.5%.

-- Written by Elizabeth Trotta in New York