The Dow Jones industrial average rose 0.6 percent to 13,248.44. The S&P 500 gained 0.7 percent to 1,427.84. The Nasdaq composite index rose 1.2 percent to 3,022.30

Benchmark crude for January delivery was up 19 cents to $85.98 per barrel in electronic trading on the New York Mercantile Exchange. The contract rose 23 cents to close at $85.79 per barrel on the Nymex on Tuesday.

In currencies, the euro rose to $1.3009 from $1.3003 late Tuesday in New York. The dollar rose to 82.55 yen from 82.50 yen.

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