Stocks rallied for a third day Wednesday, jumping more than 1 percent, as industrial production rose for a second straight month and weakness in the dollar boosted commodity and industrial stocks.

"Individual clients are anxious," says one market pro.  "We see signs of speculation from some of our clients that are not connected to reality."

Stocks snapped a five-day winning streak Friday as a sharp drop in oil prices and profit-taking offset an improvement in consumer confidence and a rosier outlook from economic bellwether FedEx. Still, for the week, stocks gained 1.7 percent.

FedEx Corp., the world's second largest package delivery company, raised its first-quarter earnings forecast, citing better-than-expected international shipments and cost-cutting.

At package delivery behemoths FedEx and UPS, last fall's meltdown and the worst recession in a generation has meant a sharp drop-off in the number of documents and packages sent overnight.

Stocks ended flat Wednesday as tech and consumer stocks rebounded but banks dragged after a credit downgrade on more than a dozen companies.

Stocks ticked higher Wednesday as consumer stocks rebounded after a tame inflation reading but banks still dragged after credit downgrade. FedEx skidded after it issued a weak outlook.

Stocks turned mixed Wednesday as investors digested a tame inflation reading against a weak outlook from FedEx. Banks dragged after a credit downgrade.

Futures pared their losses Wednesday after a tame inflation reading. Futures had started off the day on negative footing after FedEx delivered a lower-than-expected outlook and a report showed mortgage applications plunged last week. FedEx said its earnings outlook was lower than Wall Street anticipated.