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InvestorsEd: Stocks Recover from Early Losses Finding Resistance

  

After moving sharply lower in morning trading on Thursday, stocks staged a notable recovery attempt over the course of the afternoon. Buying interest remained somewhat subdued, however, and the major averages still ended the day in the red. The major averages posted modest losses on the day, well off their worst levels of the session. The Dow dipped 42.47 points or 0.3 percent to 13,944.05, the Nasdaq edged down 3.35 points or 0.1 percent to 3,165.13 and the S&P 500 slipped 2.73 points or 0.2 percent to 1,509.39. The early weakness on Wall Street was partly due to uncertainty about the financial situation in Europe following comments by European Central Bank President Mario Draghi. While Draghi said European economic activity should gradually recover later in 2013, he warned that the risks surrounding the economic outlook for the euro area continue to be on the downside.

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