The Dow Jones industrial average gained about 48.72 points to close at 6,526.07, after recovering from an early 72-point slide that threatened to put the blue-chip barometer below 6,400 for the first time since December.

But for the week, the Dow dropped 214.52 points -- the fourth largest after Oct. 13, 1989's fall of 216.26. The Dow is nearly 560 points, or almost 8 percent, shy of its all-time high at 7,085.16, set March 11.

Advancers outnumbered decliners 4 to 3 today on the New York Stock Exchange, with 1,432 up, 1,065 down and 806 unchanged. NYSE volume totaled 537.24 million shares vs. 495.48 million yesterday.

The Standard & Poor's 500-stock list rose 7.58, or about 1 percent, to 757.90. The Nasdaq composite index rose 22.97, or nearly 2 percent, to 1,236.73. The NYSE composite index rose 3.62 to 398.02, but the American Stock Exchange composite index fell 1.09 to 556.73.

The technology-laden Nasdaq market posted a sizable gain for the second straight session amid some renewed interest in battered computer-industry issues such as Intel Corp. and Cisco Systems.

As bond prices fell today, the yield on the 30-year Treasury bond soared to nearly 7.16 percent before settling at about 7.12 percent. The long-bond yield hasn't closed at that level since before last summer's market selloff.