NEW YORK -- Higher than expected crude oil stocks sent oil prices crashing and U.S. stocks soaring Wednesday on what had begun as another downhill session.

The Dow Jones industrial average rose 113.55 or 1.15 percent to 10,002.60 on a volume of 1.3 billion shares. The Nasdaq composite gained 41.20 or 2.14 percent to 1,969.99 and the Standard & Poor's 500 increased 14.31 or 1.29 percent to 1,125.40.

Federal and petroleum-industry groups reported higher crude stocks and imports, the Wall Street Journal said. That sent energy futures sharply lower and stocks halted their skids and started climbing.

At the bell, a weaker-than-expected durable goods orders report had tapped down blue chips and the broader market.

Bonds also reversed course, with the 10-year Treasury note weakening 18/32, or $5.63 for each $1,000 invested, for a 4.07 percent yield.

The dollar fell to 106.64 yen from 106.67, but the euro fell to $1.2708 from $1.2764.

Tokyo's Nikkei 225 rose 19.49 points or 0.2 percent to close at 10,691.95. London's FTSE 100 settled at 4,630.10 after gaining 46.70 or 1.02.

Copyright 2004 by United Press International