Stocks closed higher Wednesday after investors shrugged of the risk of conflict with Syria. Disappointment over Apple's (AAPL) new iPhone lineup dragged down tech stocks.
Investors decided the risk of a conflict with Syria is shrinking and sent stock prices higher.
The Dow Jones industrial average rose 135.54 points, or 0.9 percent, to 15,326.60 on Wednesday. A big decline in Apple and other technology companies held back the Standard & Poor's 500 index and the Nasdaq composite. The S&P 500 managed a small gain, its seventh in a row.
U.S. and Russian diplomats are working on a plan that would lead to Syria giving up chemical weapons that President Barack Obama says were used against civilians. Obama said the U.S. will explore a possible diplomatic solution, though the U.S. military remains ready to attack.
After a tough August, stocks have been rising in September. The S&P 500 is up 3.4 percent so far this month. Since September began, a U.S. strike on Syria has gone from seeming imminent to being something that may or may not ever happen.