US Stocks close higher on tech strength (ext)

NEW YORK (CNNMoney) -- U.S. stocks closed higher Wednesday as strength in the technology sector offset weakness in energy producers and industrial companies.

The Dow Jones industrial average (INDU) rose 33 points, or 0.3%, to close at 12,426; the S&P 500 (SPX) added 3 points, or 0.2%, to 1,335; the Nasdaq Composite (COMP) gained 8 points, or 0.3%, to 2,799.

Energy stocks came under pressure after the government's weekly inventory report showed smaller-than-expected declines in U.S. supplies of oil and gasoline, raising fears that energy demand is waning.

Gold prices settled at a nominal all-time high on a combination of a weaker dollar, geopolitical turmoil and general fears about inflation. Oil prices closed higher after rising above $109 a barrel earlier in the session.

"It's been a pretty mixed day with not much to react to," said Kate Warne, chief investment strategist with Edward Jones. "I think that's going to be the case until we start to start to get first-quarter earnings, which will be the main driver next week."

The first-quarter reporting period unofficially starts Monday when Dow-stock Alcoa reports results. Overall, earnings for the companies in the S&P 500 are expected to be up 11% versus last year, according to Thomson Reuters.

Meanwhile, investors continue to keep an eye on budget negotiations in Washington and political turmoil in the Middle East and North Africa.

The dollar fell versus the euro and the British pound but rose against the Japanese yen.

Gold futures for June delivery rose $6 to close at a nominal record high of 1,458.50 an ounce. Silver broke a 31-year high of $39.71 an ounce earlier in the morning.

Oil for May delivery gained 30 cents to settle at $108.65 a barrel. The nation's supplies of crude rose by 2 million barrels last week, according to the government's weekly inventory report. The increase matched forecasts from energy research firm Platts.