Stocks and many exchange-traded funds notched mild gains Wednesday, a low-volume trading session because of the Veterans Day holiday.

The Dow Jones Industrial Average closed up 44 points at 10,291. The Nasdaq gained 16 at 2167, and the S&P 500 climbed 6 to 1099.

In a speech late Tuesday, Federal Reserve Bank of Dallas President Richard Fisher said he is aware that the Fed's current stance of keeping interest rates low for an "extended period" was denting the dollar but that he didn't want to do anything about it, pointing out inflation is likely to remain subdued for some time. Fisher also said the dollar's depreciation hasn't been disorderly.

Sentiment was lifted across the board by economic data from China. The nation s industrial output rose 16.1% in October to a 19-month high.

The figures "kept alive hopes for a global [economic] recovery," and underpinned oil prices, said Peter Beutel, president of trading advisory firm Cameron Hanover.

The U.S. market got some mixed news on the consumer Wednesday as Macy's (M) reported better-than-expected third-quarter results but a disappointing holiday outlook before the start of trading. Department stores are facing big challenges as shoppers -- worried about job security and tight credit -- keep their focus on basics like food.

Builder Toll Brothers said it expects revenue of $486.6 million, which, while down 30% from 2008, compares well to estimates for $386.2 million forecast by Thomson Reuters.

Bond markets and many offices were closed for Veterans Day. COMEX gold futures hit a fresh intraday high, climbing to $1,119.10 an ounce before settling at $1,114.60.

For a detailed rundown on Wednesday s trading session see our market story.

Winners

The Toll Brothers forecast boosted the SPDR S&P Homebuilders fund 3.0%. The SPDR Dow Jones REIT rose 2.1%.

Losers

The iShares MSCI Brazil Index fund took an 0.85% hit on the weak dollar. Among leveraged ETFs, the UltraShort Financials ProShares fund dropped 2.8% on the other side of the rally.

Thursday s Notebook

Earnings and Conference Calls
AECOM, Alliant Techsystems, AmBev - Companhia de Bebidas Das Americas,Banco de Chile, Banks.com, BCE,Birner Dental Management Services, Blockbuster, BluePhoenix Solutions, Brasil Foods, Cenveo, Cover-All Technologies, Darling International, eDiets.com, EFJohnson Technologies, eMagin, EnCana, SCO Technologies, Evolution Petroleum, Gammon Gold, GigOptix, Global Sources, Henry Bros. Electronics, HSN, Interleukin Genetics, Interval Leisure Group, Inuvo, Iridex, Key Technology, Kohls, Lime Energy, Lyris, Matthews International, MDRNA, Medcath, MER Telemanagement Solutions, Meridian Bioscience, Microsemi, Mobile Telesystems, Nash Finch, Netsol Technologies, Nordstrom, North American Palladium, NTN Buzztime, OccuLogix, P&F Industries, Pharmathene, Phonera, Repsol, Rexel, Sapiens International, Seahawk Drilling, Suburban Propane Partners, Taseko Mines, Telefonica, The Greenbrier Companies, The Management Network Group, Transcept Pharmaceuticals, Turkcell, Urban Outfitters, VirtualScopics, Vivendi, Wal-Mart Stores, Walt Disney, WebMediaBrands, Westport Innovations, Winland Electronics

Economic Data
7:00 a.m. MBA Purchase Applications
8:30 a.m. Jobless Claims
9:00 a.m. RBC CASH Index
11:00 a.m. EIA Petroleum Status Report
2:00 p.m. Treasury Budget
4:30 p.m. Fed Balance Sheet
4:30 p.m. Money Supply