NEW YORK (AP) – Stocks lurched higher after a back-and-forth session Thursday as investors appeared to set aside some interest rate concerns and take a dose of upbeat economic data at face value.

The Philadelphia Federal Reserve said regional manufacturing in June has had its strongest growth since April 2005. The bank’s index of regional manufacturing activity jumped to 18 from 4.2 in May. But the report had little effect on the market although investors have been wary about any signs of economic strength that might lead the Federal Reserve to raise interest rates when its Open Market Committee meets next week.

Treasury yields moved in a narrow range after soaring Wednesday, and their calmer movements helped pacify some of the market’s interest rate concerns. The yield on the benchmark 10-year Treasury rose to 5.17 percent from 5.15 late Wednesday.

Oil, which had advanced amid concerns about a general strike in Nigeria, Africa’s largest crude oil producer, reversed course Thursday. Light, sweet crude fell 21 cents to $68.65 per barrel on the New York Mercantile Exchange.

According to preliminary calculations, the Dow Jones industrial average rose 56.42, or 0.42 percent, to 13,545.84 after dropping 146 points Wednesday.

Broader stock indicators also rose. The Standard & Poor’s 500 index rose 9.35, or 0.62 percent, to 1,522.19 and the Nasdaq composite index advanced 17.00, or 0.65 percent, to 2,616.96.

___

On the Net:

New York Stock Exchange: http://www.nyse.com

Nasdaq Stock Market: http://www.nasdaq.com