The spotlights of stock markets yesterday – the major U.S. stock indexes ended higher, the market zigzagged in the wake of stronger than expected durable goods data for April, and a bounce-back in crude oil prices.

Oil prices remained a big focus on Wall Street. Oil recovered from recent losses to again push above the $130-per-barrel mark Wednesday. Light, sweet crude rose $2.18 to settle at $131.03 per barrel on the New York Mercantile Exchange after being down nearly $3 a barrel earlier in the session. Gas prices rose to a fresh record Wednesday over $3.94 a gallon, according to AAA and the Oil Price Information Service. Gold futures were lower, and bonds fell on better-than-expected economic data.

The Dow Jones industrial average rose 45.68 points, or 0.36%, higher at 12,594.03. The blue chips had been down more than 45 points earlier in the session. The broader S&P 500 index gained 5.49 points, or 0.4%, to 1,390.84. The tech-heavy Nasdaq composite index was added 5.46 points, or 0.22%, at 2,486.70. On the NYSE, 18 stocks were higher for every 13 in negative territory. On the Nasdaq, the ratio was flat.

Shares of Keycorp, a big Midwestern bank fell after the company upgraded its outlook for net loan charge-offs for 2008 from 0.65% to 0.90% of average loans to 1.00%-1.30%. KeyCorp's stock sank 10.4 percent to $19.66. Coca-Cola Enterprises shares fell after the company announced that it expects a mid to high single-digit decline in second-quarter profits vs. a year ago.

Shares of American International Group dropped nearly 5 percent after Citigroup said the insurer may need even more capital after raising $20 billion just last week. AIG shares were down 4.7 percent to $34.91. Shares of technology companies such as IBM and Hewlett-Packard Co rose after a government report on orders for durable goods - long-lasting manufactured items - showed a surprising jump in business investment last month. The data also boosted shares of companies that make expensive machinery such as Caterpillar and Deere & Co

International Business Machines Corp rose 1.7 percent to $129.54 and was the biggest positive contributor on the Dow. Computer and printer maker HP rose 1.8 percent to $46.52. Blackberry maker Research in Motion Ltd gained 2 percent to $137.03. Shares of Caterpillar rose 1.5 percent to $83.19 and Deere's stock gained 3.4 percent to $82.58. Aluminum producer Alcoa Inc gained 3 percent to $41.57. Ohio-based Fifth Third fell 3.6 percent to $18.85 and Texas-based Comerica fell 3.8 percent to $35.66.

The retail sector gained after apparel maker Polo Ralph Lauren Corp posted fourth-quarter earnings of $1.00 per share, vs. 68 cents a year ago, on a 14% revenue rise. Ralph Lauren shares jumped 11.1 percent to $68.59. Chico's stock rose 11.7 percent to $69.Women's apparel retailer Chico's FAS Inc also posted a better-than-expected quarterly profit. American Eagle Outfitters Inc. issued a second-quarter profit forecast that topped Wall Street's expectations. The stock gained $1.39, or 8.1 percent, to $18.61. The Russell 2000 index of smaller companies rose 4.07, or 0.55 percent, to 738.46.

Major European indexes were mostly higher Wednesday. In London, the FTSE 100 index inched up 0.18% to 6,069.60. In Paris, the CAC 40 index rose 1.32% to 4,971.11, while Germany's DAX index advanced 1.08% to finish at 7,033.84. In Asia, Japan's Nikkei 225 shed 1.32% to close at 13,709.44, while Hong Kong's Hang Seng index slipped 0.13% to 24,249.51.