Stocks Bounce Back After Early Loss

NEW YORK (March 27, 2013)--Stock indexes regained most of the ground they lost Wednesday to close mostly lower.

Traders were watching closely to see whether Cyprus successfully reopens its banks Thursday after a two-week shutdown and they’re also unsettled by Italy's failure to form a government and get moving with economic reforms.

The Dow Jones industrial average closed down 33 points, or 0.2 percent, at 14,526 Wednesday, after being down as much as 120 earlier.

The Standard & Poor's 500 fell just under a point to close at 1,562.

It's a little more than two points away from the all-time high it reached in October 2007.

The Nasdaq composite rose four points, or 0.1 percent, to end the day at 3,256.

Rising stocks outnumbered falling ones on the New York Stock Exchange where volume was light at 2.8 billion shares.

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