Stocks rose on Wednesday, led by bank shares, after solid quarterly earnings from Morgan Stanley and Wells Fargo.

Morgan Stanley added 6.4 percent to $34.63 after reporting a better-than-forecast profit, helped by strong fixed income sales and trading revenues.

Wells Fargo & Co income rose 60 percent as mortgage banking revenue surged. Shares added 0.5 percent to $30.63.

However, Boeing Co shed 0.4 percent to $51.66 after the airplane maker posted a net loss on charges related to its long-delayed 787 plane and the 747 program.

(Earnings) haven't been phenomenal, but the market hangs in there with good in-line earnings said Todd Leone, head of listed trading at Cowen & Co in New York.

The Dow Jones industrial average <.DJI> gained 50.41 points, or 0.50 percent, to 10,091.89. The Standard & Poor's 500 Index <.SPX> added 7.01 points, or 0.64 percent, to 1,098.07. The Nasdaq Composite Index <.IXIC> climbed 20.26 points, or 0.94 percent, to 2,183.73.

(Reporting by Chuck Mikolajczak; editing by Jeffrey Benkoe)