Wall Street closed a quiet session with a moderate advance today, with energy and other commodities companies leading the market as oil prices extended their record-breaking run.

Wall Street began the first full week of 2004 with a solid advance today rising on encouraging interest rate news, a strong semiconductor sales report and an upbeat forecast from software firm Siebel Systems.

Wall Street surged again today lifting the Nasdaq composite index to its best close in nearly 22 months as investors welcomed reports of strong growth in the nation’s manufacturing sector and a hefty rise in construction spending.