India, April 30 -- After pulling back sharply early in the session, stocks showed a significant recovery over the course of the trading day on Wednesday. The major averages climbed well off their worst levels of the day before eventually closing mixed.
The major averages showed a strong move to the upside going into the close of trading. While the Nasdaq still ended the day down 14.98 points or 0.1 percent at 17,446.34, the S&P 500 rose 8.21 points or 0.2 percent to 5,569.06 and the Dow climbed 141.74 points or 0.4 percent to 40,669.36.
The early sell-off on Wall Street came as traders cashed in on recent strength in the markets following the release of a Commerce Department report showing the U.S. economy unexpectedly shrank in the first...