The Dow Jones industrial average rose 30.69, or 0.3%, to 10,464.40, its second gain in three days and its best finish since October 2008.

The broader Standard & Poor's 500 index rose 4.98, or 0.5%, to 1,110.63, and the Nasdaq composite index rose 6.87, or 0.3%, to 2,176.05.

U.S. markets are closed for Thanksgiving and finishing early on Friday.

Major stock indicators are up more than 6% for November after a slowdown in October on worries that the market's advance had been too rapid. The quiet trading Wednesday followed a 133-point jump in the Dow on Monday as the dollar weakened. Tuesday brought a modest drop. Analysts say the market's gyrations signal that investors are lacking conviction about what's happening with the economy.

Haag Sherman, chief investment officer at Salient Partners in Houston, said light trading around Thanksgiving doesn't necessarily mean that investors have concluded that an recovery has taken hold. "The market's reaction has been in kind of a muted," he said.

The dollar fell against most other major currencies, while gold rose for the ninth straight day, advancing $21.20 to settle at $1,188.60 an ounce on the New York Mercantile Exchange. It touched a record $1,191.80 during trading.

When the dollar falls commodities become more affordable to buyers outside the U.S.

The drop in the dollar fanned the price of oil. Crude rose $1.94 to settle at $77.96 per barrel on the Nymex.

Bond prices were mixed. The benchmark 10-year Treasury note rose, pushing its yield down to 3.28% from 3.31% late Tuesday. The yield on the three-month T-bill was flat at 0.03%.