Dow ends week at nearly 3-year high (ext)

NEW YORK (CNNMoney) -- U.S. stocks advanced for a third straight session Thursday, with the Dow closing at almost a 3-year high following a slew of strong earnings.

But disappointing readings on regional manufacturing and the labor market kept a lid on the gains, reminding investors that the economy is still fragile.

The Dow Jones industrial average (INDU) added 52 points, or 0.5%, to end at 12,505.99, its highest level since June 2008.

The S&P 500 (SPX) rose 7 points, or 0.5%, The Nasdaq Composite (COMP) advanced 18 points, or 0.6%.

Thursday's gains were tempered by reports that showed a sharp slowdown in manufacturing activity in the mid-Atlantic region in April and lower-than-expected jobless claims.

Even with the dampening effect of those economic reports, analysts say earnings will continue to be the main driver to push stocks higher.

About 70% of the companies in the S&P 500 have been beating Wall Street expectations quarter after quarter recently, noted Matt King, chief investment officer at Bell Investment Advisors.

Oil for June delivery rose 84 cents to settle at $112.29 a barrel.

Gold futures for June delivery settled at a record $1,503.80 an ounce, after rising to an intraday trading record of $1,509.60.