The Dow Jones industrial average rose 0.73 to 5,625.44, after posting a gain of almost 50 earlier in the session. On Tuesday, the barometer of 30 big U.S. companies added about 42 points, breaking above the 5,600 mark for the first time in four weeks, but the rebound in the blue-chip sector stumbled on Wednesday as bonds failed to follow-through on their recent strength.

Advancers led decliners by a slim margin on the New York Stock Exchange, with 1,233 up, 1,156 down and 766 unchanged. NYSE volume totaled 447.68 million shares vs. 458.60 million in the previous session.

Broader indicators ended mixed after holding modest gains for most of the day.

The NYSE composite rose 0.12 to 356.64, the index's third consecutive record close. But the S&P 500 fell 0.19 to 665.41, ending a two-day string of new highs.

The Nasdaq composite index fell 0.02 to 1,234.47, ending a three-day streak of new highs, but the Russell 2000 list of smaller companies set a new record for the fourth straight day, rising 0.65 to 358.11.

At the American Stock Exchange, the market value index fell 0.22 to 600.56, ending a two-day streak of record closes.

In economic news, the Federal Reserve reported that industrial production shot up 0.9 percent in April, rebounding from a loss in March caused by an 18-day strike that brought General Motors to a virtual standstill.

Excluding motor vehicles, output at the nation's factories, mines and utilities was unchanged, but the rebound was still larger than analysts had expected. Many had predicted output would bounce back only 0.5 percent.

The Fed also said the nation's industries were operating at 83 percent of capability in March, up from 82.5 percent a month earlier.