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Stocks Erase Losses, Dow Ekes Out a Gain
29 Mar 2012 EDT - CNBC.com
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Stocks finished mixed Thursday, recovering from a 1 percent decline across the board earlier in the session, but gains were limited as investors remained on edge amid ongoing weakness overseas.

The Dow Jones Industrial Average gained 19.61 points, or 0.15 percent, to close at 13,145.82, led by Alcoa and Caterpillar , rebounding from a 93-point loss in intraday trading. The blue-chip index is still on track to log its sixth-consecutive month of gains.

The S&P 500 erased 2.26 points, or 0.16 percent, to finish at 1403.28. The Nasdaq slipped 9.60 points, or 0.31 percent, to end at 3,095.36.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, finished above 15.

Among the key S&P sectors, financials slipped, while utilities closed higher.

“We’re only down about 1 percent in the last three days—in the grand scheme of things, that’s not a big deal," said Kenny Polcari, managing director at ICAP Equities.

Recent concerns over a slowdown in Asia, weak economic outlooks in Europe , coupled with tepid domestic reports have kept investors from jumping in.

  • Stocks Hit a Wall—And May Need the Fed After All
  • Despite the recent market pullback, stocks are still poised to log their best quarterly gain since 1998.

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