NEW YORK -- Wall Street's bulls, energized by strong consumer spending and easing crude oil prices, were charging across all major U.S. stock markets Wednesday.

The Dow Jones industrial average rose 116.53 or 1.12 percent to 10,544.55 in mid-afternoon trading. The Nasdaq composite gained 30.60 or 1.46 percent to 2,127.41, and the Standard & Poor's 500 picked up 12.21 or 1.04 percent to 1,186.03.

The Commerce Department reported consumer spending rose to a sharper-than-expected 0.7 percent in October, CNN said.

Adjusted for inflation, personal spending climbed a smaller 0.3 percent, a slowdown from September's 0.5 percent advance.

Meanwhile, oil fell below $49 per barrel.

The 10-year Treasury note added 4/32, or $1.25 for each $1,000 invested, for a 4.37 percent yield.

The dollar rose to 102.855 yen from 102.90, while the euro increased to $1.3306 from $1.3295.

Tokyo's Nikkei 225 issues dropped 115.00 points or 1.1 percent to 10,784.25. London's FTSE 100 closed at 4,738.20, rising 35 or 0.74 percent.

Copyright 2004 by United Press International