Updated from 4:09 p.m. ESTBuyers swooped into stocks at session's end Wednesday, pushing up the major averages 24 hours after Intel ( INTC) reported its stellar quarter. After hovering around unchanged for most of the day, the Dow Jones Industrial Average closed up 61.56 points, or 0.58%, to 10,617.78. The S&P 500 rose 4.71 points, or 0.4%, to 1187.70 and the Nasdaq Composite, which touched a seven-week low earlier, gained 12.91 points, or 0.6%, to 2092.53. The 10-year Treasury note was unchanged in price to yield 4.23%, while the dollar eased against the yen and euro. Volume on the NYSE was 1.56 billion shares, with advancers outpacing decliners by a ratio of ten to seven. Volume on the Nasdaq was 2.25 billion shares, with advancers outpacing decliners narrowly by a ratio of eight to seven.. "It's hard to really judge the fluctuation, as all year it's been a last-hour market," said Larry Wachtel, senior market analyst with Wachovia Securities. The Dow was paced by a 2.7% gain in Intel ( INTC), which reported blowout earnings Thursday, and similar percentage jumps in Boeing ( BA) and Honeywell ( HON). The Nasdaq was helped by Applied Materials ( AMAT) and KLA-Tencor ( KLAC), two chip equipment companies poised to benefit from Intel's aggressive capital plans. Intel rose after posting fourth-quarter earnings of 33 cents a share on revenue of $9.6 billion, both of which eclipsed estimates. The chip giant put first-quarter sales at $8.8 billion to $9.4 billion, establishing a midpoint that is well above the $8.94 billion Wall Street consensus estimate. Shares rose 62 cents to $23.16. The rise in Intel helped the Philadelphia Stock Exchange Semiconductor Index rise 1.4% after falling 2.2% Tuesday "People are just continuing to try and feel out the market," said Robert Pavlik, a portfolio manager with Oaktree Asset Management. "It's hard to explain why the market turned three times this afternoon. The final one at the end was from the positive news from Intel, which helps people sense that the earnings season won't be as bleak as expected." According to the Commerce Department, the U.S. trade gap totaled $60.3 billion in November, an increase from an upwardly revised $56 billion in October. Lower overseas sales and the importation of expensive foreign oil helped swell the gap well past the roughly $54 billion deficit economists had predicted. "The trade balance is causing concerns out there that the Fed may have to be more aggressive," said Peter Cardillo, chief market analyst with S.W. Bach & Co. "It's rekindling fears of higher inflation and the Fed's response." Crude for February delivery climbed 69 cents to $46.37 a barrel, closing over $46 since Dec. 17. Government energy data for the most recent week came in largely as expected: Crude supplies were down by 3 million barrels, while distillate supplies, including heating oil, rose by 1.9 million barrels.