Stocks rose on Wednesday as upbeat economic data helped lift oil prices and energy stocks, overshadowing concerns the upcoming summit of European leaders will fail to yield tangible progress.

Based on the latest available data, the Dow Jones industrial average <.DJI> gained 93.32 points, or 0.74 percent, to 12,627.99. The Standard & Poor's 500 Index <.SPX> gained 11.89 points, or 0.90 percent, to 1,331.88. The Nasdaq Composite Index <.IXIC> gained 21.26 points, or 0.74 percent, to 2,875.32.

(Reporting By Caroline Valetkevitch; Editing by Kenneth Barry)