But most stock measures suffered sizable losses after another unexpectedly strong economic reading heightened worries about inflation and sent interest rates soaring in the bond market.
The Dow Jones industrial average fell 5.78 to 6,442.49, having bounced back from an 88-point deficit over the last half hour. The blue-chip barometer slid more than 95 points in the morning after a surprisingly robust report on the manufacturing sector.
Decliners outnumbered advancers by a 12-to-5 margin on the New York Stock Exchange, with 779 up, 1,871 down and 691 unchanged.
NYSE volume totaled 461.03 million shares vs. 395.21 million Tuesday.
The Standard & Poor's 500-stock list fell 3.75 to 736.99, and the NYSE's composite index fell 2.77 to 389.53. The Nasdaq composite index fell 10.33 to 1,280.70, and the American Stock Exchange index fell 3.18 to 569.16.
The markets were jolted by indications of a pickup in manufacturing activity, which could squeeze inflationary pressures such as rising wages.
The bond market is sensitive to hints of inflation, which makes fixed income investments less attractive. As bond prices fell today, the yield on the 30-year Treasury bond - a key determinant of corporate and consumer borrowing costs - jumped as high as 6.76 percent, up from late Tuesday's 6.64 percent. By late afternoon, the yield stood at 6.74 percent.