Blue-chip stocks roared back from a deep sell-off to end on a strong note yesterday, propelled by big gains in oil company stocks after US military strikes on Iraqi targets lifted oil prices to four-month highs.

The Dow Jones industrial average ended up 32.18 points at 5,648.39 after being down more than 50 points in the first minutes of the session as investors worried about higher interest rates and news of the US action against Iraq.

In the broader market, declining issues led advances 1,392 to 1,015 on trading of 333 million shares on the New York Stock Exchange.

Analysts warned, however, that the market's recovery masked continued uncertainty about interest rates, noting that most of the Dow index's strength came from oil stocks.

The rebound in stocks began with release of the National Association of Purchasing Management index of manufacturing activity for August.