US STOCKS-Wall St rises with energy, consumer shares

                                

                                
 * Crude oil prices rise 2.1 percent
                                
 * U.S. wholesale inventories surge in July
                                
 * Forecasts from National Semi, Texas Instruments weigh
                                
 * Indexes up: Dow 0.3 pct; S&P 0.5 pct; Nasdaq 0.4 pct
                                
 * For up-to-the-minute market news see [STXNEWS/US]
(Updates to morning trading)
                                
 By Rodrigo Campos
                                
 NEW YORK, Sept 10 (Reuters) - U.S. stocks rose on Friday as
energy shares were boosted by a jump in crude oil prices and
wholesale inventory data pointed to rising consumer demand.
                                
 Energy shares advanced as crude futures <CLc1> traded up
almost 3 percent, well above $76 per barrel, after the forced
shutdown of the biggest pipeline supplying Canadian oil to
refineries in the U.S. Midwest and to a key storage hub in
Oklahoma. For details see [ID:nSGE689037].
                                
 Occidental Petroleum Corp <OXY.N> gained 1.7 percent to
$78.88 and National Oilwell Varco Inc <NOV.N> added 1.8 percent
to $40.65. The PHLX oil services sector index <.OSX> gained 2.3
percent.
                                
 U.S. wholesale inventories surged by the largest amount in
two years in July, government data showed, a sign firms were
anticipating enough demand to boost their stocks this summer.
[ID:nN09207114].
                                
 Consumer discretionary shares advanced, with Sears Holding
Corp <SHLD.O> up 3.1 percent to $66.95. The S&P discretionary
sector index <.GSPD> gained 1.1 percent.
                                
 "There's been a resurgence in optimism about the economy,
and that's directly linked to oil demand. I'd expect the trend
of higher oil prices to continue," said Peter Jankovskis
co-chief investment officer at OakBrook Investments LLC in
Lisle, Illinois.
                                
 The Dow Jones industrial average <.DJI> gained 33.60
points, or 0.32 percent, to 10,448.84. The Standard & Poor's
500 Index <.SPX> added 4.92 points, or 0.45 percent, to
1,109.10. The Nasdaq Composite Index <.IXIC> rose 8.09 points,
or 0.36 percent, to 2,244.29.
                                
 The gains returned the Dow industrials to positive
territory for the year, with indexes heading for the seventh
rise in eight sessions.
                                
 Chipmaker shares capped gains after National Semiconductor
Corp <NSM.N> and Texas Instruments Inc <TXN.N> issued quarterly
financial targets that stoked investor worries about a sluggish
economy. [ID:nN09218365].
                                
 National Semi shares tumbled 6.5 percent to $12.06 and
Texas instruments dropped 0.6 percent to $23.70. The PHLX
semiconductor index <.SOX> dropped 1 percent.
                                
 "We did have a surge in sales (earlier in the year), but
companies are getting a little nervous again. I think we're
going to continue to see that start-stop pattern in technology
spending," said Jankovskis.
                                
 Sector bellwether Intel Corp <INTC.O> warned Aug. 27 that
third-quarter revenue could fall short of its own estimates by
more than $1 billion. Its shares were unchanged Friday.
[ID:nN27260125].
                                
 U.S.-traded shares of Nokia Corp <NOK1V.HE><NOK.N>, the
world's top cellphone maker, rose 2.7 percent to $10.02 after
the company said it hired Microsoft Corp's <MSFT.O> Stephen
Elop to replace Nokia's embattled chief executive.
[ID:nLDE68903W].
                                
 Reports that Deutsche Bank <DBKGn.DE><DB.N> plans to raise
capital pressured European markets lower. Deutsche Bank shares
traded in Frankfurt fell 4.4 percent but the New York-traded
stock was up 1.3 percent at $60.73.
 (Editing by Padraic Cassidy)