Rise in Bond Prices Helps to Buoy Stocks
Stocks rallied at the end of an erratic session as investors pondered their next move after the Federal Reserve's warning on inflation.</br></br>The Dow Jones industrial average rose 50.44 to close at 10,887.39 after changing direction several times during the session.</br></br>Broader stock indicators also closed higher after struggling all day to chart a course. The Standard & Poor's 500 index rose 10.91, to 1344.23, and the Nasdaq composite index rose 19.04, to 2577.40.</br></br>"Everyone has adopted a wait-and-see attitude," said Dan Ascani, president and research director at Global Market Strategists Inc. in Gainesville, Ga.</br></br>On Tuesday, the Dow fell 16.52, recovering from a 112-point slide that followed the Fed's decision to leave interest rates unchanged. But a warning from the Fed that rates are likely to rise if inflation reawakens left the market jittery today.