Stocks Recover for Mixed Close

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Wall Street recovered from an earlier plunge to finish narrowly mixed Thursday as investors attempted to rally from a week of losses fueled by concerns that higher interest rates will strain the global economy.


Persistent inflation and rate worries pushed stocks substantially lower during the session, with the Dow Jones industrials dropping more than 173 points at midday. But bargain hunters entered the market late in the day and took advantage of relatively cheap stock prices.


According to preliminary calculations, the Dow rose 7.92, or 0.07 percent, to 10,938.82. The Dow lost about 330 points across the last four sessions. Broader stock indicators turned mixed. The Standard & Poor’s 500 index added 1.78, or 0.14 percent, to 1,257.93, and the Nasdaq composite index fell 6.48, or 0.3 percent, to 2,145.32.






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CB Richard Ellis Group Inc. was raised to “overweight/in-line” from “equal-weight/in-line” by analyst Jennifer L Pinnick at Morgan Stanley. The price target is $29 per share.


International Rectifier Corp. was raised to “above average” from “average” by

analyst Richard L Whittington at Caris & Company.


Gemstar-TV Guide International Inc. was raised to “hold” from “sell” by analyst Ivan Feinseth at Matrix USA.

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