U.S. stocks ended higher on Wednesday as oil prices fell more than $1 and the economy accelerated more than previously thought in the third quarter.

The Dow Jones industrial Average ended the day up 56.46 points, or 0.52 percent, at 10,815.89. The Standard & Poor’s 500 Index was up 4.12 points, or 0.34 percent, at 1,209.57. The Nasdaq Composite Index was up 6.12 points, or 0.28 percent, at 2,157.03.

Among local movers, Tekelec, a Calabasas-based telecom equipment manufacturer, closed at $21.20, up 6.7 percent. The gain came as the company rebounded from analyst downgrades last week and the resignation of its chief financial officer. A report from investment firm Robert W. Baird & Co. issued today upgraded the stock to “outperform,” raising its target price from $23 to $28. Also posting healthy gains was Arrowhead Research Corp., which rose 6.5 percent to $4.49 two days after being named to Merrill Lynch’s Nanotechnology Index.

On the down side of the ticker, National Lampoon Inc. lost 9.1 percent on the day, closing at $2.50, and Flamemaster ended down 5 percent, closing at $53.50.