New York — The stock market stabilized Thursday following three days of volatile trading, but tense investors traded cautiously amid continuing uncertainty about the economy in this country and overseas.
Although investors were hoping that the 317-point plunge blue chips took Wednesday would inspire a rally, they saw little reason to do much buying.
The Dow advanced 57.82 to close at 10,031.28 after rising more than 100 points early in the session. The Dow fell below 10,000 on Wednesday for the first time in five months and fluctuated above and below that milestone throughout Thursday's dealings.
Broader market indicators were mixed. The Nasdaq composite index slipped 31.38 to 1,940.71 after falling below 2,000 Monday for the first time in more than 27 months.
Wall Street's broadest measure, the Standard & Poor's 500, rose 6.85 to 1,173.56. However, the S&P 500 is down nearly 25 percent from its closing high of 1,527.46, reached a year ago.
The dive blue chips took Wednesday was particularly unsettling because such upsets had for months been largely reserved for the Nasdaq. Investors had taken comfort in thinking the slowing economy was hurting mostly the tech sector, leaving the broader market relatively intact.
Thursday's session mirrored the meager bump-up stocks made Tuesday after the Nasdaq's big slide the day before. Analysts said that lack of commitment by investors doesn't bode well for a rally.
Stocks are expected to remain in a slump until companies report healthier earnings, but based on many firms' lowered outlooks, it now appears a turnaround might not happen this year, analysts said.
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