Solid growth in the gross domestic product cheered Wall Street and boosted stocks Thursday as investors' concerns about economic growth eased. The economy grew by an encouraging 3.5 percent in the first quarter of the year -- up from a 3.1 percent estimate last month but slightly less than the 3.6 percent economists had expected. Investors welcomed the report as a sign that the economy was still growing and inflation risks had lessened. The news also helped minimize this week's rise in oil prices, given that energy costs had not dampened first-quarter GDP to a great degree. A barrel of light crude was quoted at $51.13, up 15 cents, on the New York Mercantile Exchange. In the first minutes of trading, the Dow Jones industrial average up 35.91, or 0.3 percent, at 10,493.71. Broader stock indicators also moved higher. The Standard & Poor's 500 index was up 2.76, or 0.2 percent, at 1,192.77, and the Nasdaq composite index gained 7.78, or 0.4 percent, to 2,057.90.