The Nasdaq rose and the broader market inched up on Wednesday as investors welcomed falling oil prices and good news about Dow stock Microsoft.

The Dow Jones industrial average increased 24.22 to 12,534.52. The broader S&P 500 up 1.53 to 1,439.30. The Nasdaq composite rose 0.42 percent.

Stocks struggled in the early going as investors welcomed the developments in Iran and the oil markets, but held back due to weaker reports on the economy.

Among stock movers, Microsoft showed a growth after Citigroup raised its fiscal third quarter earnings estimates on the software leader, reflecting what it said was the successful launch of Windows Vista and Office 2007.

But weaker-then-expected economic reports revived worries about the health of the economy.

Factory orders rose 1 percent in February after falling a revised 5.7 percent in January. Economists surveyed by Briefing.com thought sales would rise 1.9 percent.

The Institute for Supply Management's services sector index fell to 52.4 in March from 54.3 in February. Economists thought it would rise to 54.7, on average.

All stock markets are closed for Good Friday, although bond and commodities markets will see limited trading.