NEW YORK (CNN/Money) - Stocks rose Wednesday, ending a tumultuous session higher, even amid the prolonged uneasiness about a potential war with Iraq. Thursday's session is likely to contain the same preoccupations, as investors also take in new economic reports and an update from Intel.

After the close of trade Thursday, investors will get a mid-quarter update from influential chipmaker Intel (INTC: up $0.36 to $16.98, Research, Estimates). The company is both a member of the 30 Dow industrials and a heavily weighted stock on the Nasdaq composite. As a result, what the company has to say about the health of its business and the long hoped-for pickup in technology spending will be closely scrutinized for implications for the rest of the industry.

Investors will also be focused on the report on weekly jobless claims due out at 8:30 a.m. ET, as it comes a day ahead of the closely watched monthly employment report. A report on January factory orders and a revised fourth-quarter productivity report are also expected early Thursday.

On Wednesday, the Dow Jones industrial average (up 70.73 to 7775.60, Charts), the S&P 500 index (up 7.86 to 829.85, Charts) and the Nasdaq composite (up 6.63 to 1314.40, Charts) all closed with modest gains. The major indexes had zig-zagged on both sides of unchanged throughout the session.

A variety of Dow 30 stocks found buyers late in the day, notably technology components Microsoft (MSFT: up $0.37 to $23.44, Research, Estimates) and Intel (INTC: up $0.36 to $16.98, Research, Estimates), as well as financial services firm Citigroup (C: up $0.80 to $33.17, Research, Estimates).

The Nasdaq had a harder time breaking higher, amid weak software issues following a negative analyst note on Oracle (ORCL: down $0.46 to $11.17, Research, Estimates) and some disappointing earnings news in the retail and biotech sectors.

The Iraq conflict was again mired in international gridlock. Bush administration officials argued that it is possible a conflict with Iraq can still be avoided, but that Iraq is not complying with a U.N. resolution to disarm. Meanwhile, members of the United Nations Security Council and chief U.N. weapons inspector Hans Blix continued to push for caution.

"We've been trading sideways for months, and until we get some sort of resolution with Iraq, we're going to keep trading in fits and starts," said Matt Ruane, head of listed trading at Gerard Klauer Mattison.

Investors, weary after months of diplomatic arguments over how to handle Iraq and the increasing threat from North Korea, were unwilling to jump back into the stock market with too much gusto.

Even as Baghdad continued to destroy missiles, as prescribed by the United Nations, Washington was mulling the withdrawal of a U.N. resolution it proposed last week, that would have opened the door for war. A vote on the resolution is scheduled for next week, but as more Security Council member countries voice opposition to it, the Bush administration is debating whether it needs U.N. approval at all for a possible military attack on Iraq.

Stocks had taken a pause as Secretary of State Colin Powell began an afternoon speech updating the Bush administration's stance on Iraq, in which he argued Baghdad was not disarming. But an earlier bit of blue-chip buying resumed course at the conclusion of the speech, as his comments were digested amid a number of other new Iraq developments Wednesday.

Earlier in the day, chief U.N. weapons inspector Hans Blix said in a news conference that the inspections are working, while U.S. Defense Secretary Donald Rumsfeld said there was still a chance to peacefully disarm Iraq.

The market also took in news that the Pentagon is sending bomber planes to within easy reach of North Korea, after the communist country rekindled its nuclear arms program months ago and sent four military jets to tag a U.S. surveillance plane over the weekend.

"There are a number of concerns -- manufacturing sales were weak, auto sales came in weak Tuesday, you've got very high oil prices that have remained at these levels for much longer than anyone predicted, and then there's earnings," said Michelle Clayman, chief market strategist at New Amsterdam Partners. "Some earnings news has been OK, but then today you have Costco (COST: down $0.55 to $28.75, Research, Estimates) reporting weak earnings and a warning in the beverage sector."

Shares of Pepsi Bottling (PBG: down $3.99 to $18.20, Research, Estimates), the largest bottler of Pepsi beverages, fell 18 percent on the New York Stock Exchange in heavy trade after the company warned that 2003 results won't meet estimates due to a slowdown in its United States volume and profit.

The stock plunge took its toll on others in the sector, including Dow component Coca-Cola (KO: down $0.82 to $37.55, Research, Estimates), which fell 2 percent on the news and was one of the industrials' few decliners.

Dow defense stocks Boeing (BA: down $0.71 to $26.74, Research, Estimates) and United Technologies (UTX: down $0.20 to $56.78, Research, Estimates) also declined with the sector after Northrop Grumman (NOC: down $3.51 to $83.75, Research, Estimates) warned that 2003 results won't meet estimates, due to a delay in paying down debt after it bought TRW.

Business software maker Oracle (ORCL: down $0.46 to $11.17, Research, Estimates) may have had a tough February, Lehman Bros. said in a morning note, citing feedback from industry sources. The firm believes that Oracle's licensing revenue could fall $20 million shy of Lehman's previous $775 million estimates when the company reports results on March 18.

Biotech Andrx (ADRX: down $3.62 to $7.89, Research, Estimates) reported a sharp fourth-quarter loss as a result of delays in getting regulatory approval for its generic versions of Wellbutrin, an anti-depressant, and Zyban, an aid in quitting smoking. The stock fell 31 percent and was one of the Nasdaq composite's top five most actively traded issues.

But helping stock action was a morning report on the services sector of the economy and a pullback in some of the recent surging commodities.

In an early morning report, the Institute for Supply Management said its index for the services sector fell to 53.9 in February from 54.5 the month before -- the number was stronger than had been expected, but it still showed that, much like the ISM's manufacturing report Monday, the pace of growth in the sector is slowing down.

Oil prices reversed course for the day, with light crude oil futures falling 20 cents to $36.69 a barrel. Gold also gave up its early gains of more than $3 an ounce, adding 10 cents to trade at $353.20 an ounce.

U.S. Treasury bonds rose, with the 10-year note adding 5/32 of a point in price to 102 even, pushing the yield down to 3.63 percent.

Market breadth was mixed. On the New York Stock Exchange, advancers edged decliners 8 to 7 as 1.30 billion shares changed hands. On the Nasdaq, decliners narrowly beat advancers, on volume of 1.33 billion shares.

The dollar fell a little versus the euro and gained a little versus the yen.