Stocks closed mixed after another choppy, low volume session, as the broader market staged a late afternoon rally despite slumping bank and tech stocks.
The Dow Jones Industrial Average rose 14.16 points, or 0.12 percent, to close at 12,285.15, following another rocky session that ended with the blue-chip index slightly higher.
Kraft and Coca Colagained, while JPMorgan and Hewlett-Packard slipped.
The S&P 500 rose 0.11 points, or 0.01 percent, to close at 1,314.52, while the tech-heavy Nasdaq fell 1.30 points, or 0.05 percent, to close at 2,760.22. The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell to nearly 16.
Among key S&P sectors, consumer staples and energy rose, while financials and techs slipped.
"The bears had their opening in the beginning of the market and didn’t make it happen," said Uri Landesman, president at Platinum Partners. "I think people are afraid to fight the tape here, I don’t think it’s much more than that."
There are also technical factors at play. Landesman said bullish investors realized they could push the market higher when the S&P failed to break lower than 1,283-1,284.Page 1 of 6 | Next Page