NEW YORK (TheStreet) -- U.S. stocks jumped Wednesday lifted by speculation about a new iPhone from Apple (AAPL) and cloud technologies from Intel (INTC) as investors awaited indications about a U.S. military strike against Syria.
The S&P 500 posted its biggest advance in two weeks, gaining 0.8% to 1,653.80, bolstered by the Federal Reserve which said summer spending on homes and automobiles helped provide "modest to moderate" growth, a trend that has also helped sustain this year's rally in equities.
"Investors are looking ahead of that -- looking through it, looking past it -- and saying, 'If there's action in Syria, historically the market sells off but then it rebounds pretty soon thereafter,'" said Troy Logan, managing director at Warren Financial Service. "I'm not saying there won't be a little bit of a pullback or selloff the moment we have action, but I think the market is somewhat pricing that in and looking past that."
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV