U.S. stocks rose on Wednesday after a government report showed brisk economic growth in the fourth quarter, while oil prices nudged lower. Industrial companies, such as heavy equipment maker Caterpillar Inc., lent some support following sharp declines on Tuesday. Caterpillar rose 0.9 percent to $90.54. But American International Group Inc. fell 2 percent to $56.90. The insurer admitted that its accounting for a deal under investigation by regulators was improper. AIG also delayed its 2004 annual financial report. The Dow Jones industrial average was up 38.65 points, or 0.37 percent, at 10,444.35. The Standard & Poor's 500 Index was up 4.03 points, or 0.35 percent, at 1,169.39. The Nasdaq Composite Index was up 8.20 points, or 0.42 percent, at 1,982.08. Stocks made up some of their losses on Tuesday when the S&P touched an intraday low for 2005, while the Nasdaq closed at a fresh 2005 low. A fall in oil prices helped the market, slipping 30 cents to $53.93 a barrel. High oil prices hurt consumer spending and corporate profits and a fall generally helps stocks. Weekly oil inventory numbers are expected at 10:30 a.m. (1530 GMT). --More 1829 Local Time 1529 GMT
