US stocks rose on Wednesday, but were off session highs as Treasury Secretary nominee Timothy Geithner failed to appease investors during tough questioning at his Senate confirmation hearing. "The market does not like political instability, and Geithner's hearing has thrown a monkey wrench to a smooth transition," said Jessica Hoversen, fixed-income market analyst at MF Global Research in Chicago.
The Dow Jones industrial average added 54.32 points, or 0.68 percent, to 8,003.41, after earlier rising as high as 8,109.02. The Standard & Poor's 500 Index gained 6.81 points, or 0.85 percent, to 812.03, off its session high at 823.70. The Nasdaq Composite Index rose 15.17 points, or 1.05 percent, to 1,456.03, after earlier rising as high as 1,475.26. Earlier in the session, the S&P 500 rose more than 2 percent, with the rebound in financials leading the way.
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