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Wall St leaps on tech boost, Nasdaq up 1 pct


    NEW YORK (Reuters) - Stocks rose on Wednesday, with the Nasdaq gaining more than 1 percent, as investors snapped up technology shares.

    The S&P 500 hit its highest level in 14 months, led by shares of natural resource and telecommunications companies.

    The Dow Jones industrial average gained 27.73 points, or 0.26 percent, to 10,499.31. The Standard & Poor's 500 Index gained 5.38 points, or 0.49 percent, to 1,114.24. The Nasdaq Composite Index gained 20.74 points, or 0.95 percent, to 2,196.55.

    (Reporting by Ellis Mnyandu; editing by Jeffrey Benkoe)