Stocks rose on Wednesday, sending the Nasdaq up 1 percent, as signs of strength in corporate profits fueled investors' appetite for riskier assets.

The Dow Jones industrial average <.DJI> was up 48.90 points, or 0.49 percent, at 10,090.38. The Standard & Poor's 500 Index <.SPX> was up 6.86 points, or 0.63 percent, at 1,097.92. The Nasdaq Composite Index <.IXIC> was up 20.69 points, or 0.96 percent, at 2,184.16.

Weakness in the U.S. dollar also underpinned the market as shares of multinationals headed higher.

(Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)