A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
NEW YORK (AP) - Investors remain concerned about the strength of the U.S. economy.
A bouncy ride on Wall Street yesterday ended with a modest gain.
The stock market broke a two-day losing streak as traders reacted to news from Europe and looked ahead to the government's monthly employment report.
The Dow Jones industrial average ended 80 points higher, closing at 15,040, a gain of 0.5 percent. The bluechip index dropped as much as 116 points in the early afternoon after the European Central Bank's president signaled that the bank wouldn't take more steps to shore up Europe's ailing economies.
Retail stocks mostly rose after several store chains reported higher sales for May.
Financial markets have turned volatile over the past two weeks as traders parse comments from Federal Reserve officials for hints about when the bank will cut back on its support for the economy. A batch of weak manufacturing reports has also heightened concerns about the economy's strength.
In other trading, the S&P 500 rose 13 ½ points to 1,622, a gain of 0.9 percent. The Nasdaq composite rose 22 1/2 points to 3,424.05, a gain of 0.7 percent.