Stocks rose on Thursday as higher oil prices lifted shares of major oil companies, helping to reverse the market's earlier decline sparked by disappointing new home sales data.

Financial shares also underpinned the market, with JPMorgan Chase & Co leading gains on the Dow.

The Dow Jones industrial average <.DJI> was up 32.18 points, or 0.39 percent, at 8,332.20. The Standard & Poor's 500 Index <.SPX> was up 5.15 points, or 0.58 percent, at 898.21. The Nasdaq Composite Index <.IXIC> was up 2.22 points, or 0.13 percent, at 1,733.30.

(Editing by Padraic Cassidy)