Dow Jones Industrial Average, Standard & Poor's 500-stock index august 3 2011

Dow Jones Industrial Average, Standard & Poor's 500-stock index august 3 2011 : U.S. blue-chip stocks reversed sharp morning losses in a volatile session as investors weighed the likelihood of a recession amid the ongoing uncertainties in Washington and Europe.

The Dow Jones Industrial Average gained six points, or 0.1%, to 11873 in afternoon trading, while the Standard & Poor's 500-stock index gained three points, or 0.2%, to 1257. The Nasdaq Composite added 17 points, or 0.6%, to 2686 after falling briefly into negative territory for 2011 earlier in the morning.

The gyrations came after the U.S. services sector softened and factory orders fell, adding to growing economic fears. Private-sector hiring in July came in a bit better than expected. The weakening economy, together with the debt-ceiling fight in Congress, helped push the Dow industrials to an eight-day slide, including the biggest one-day sell-off in two months. If the index finishes in the red, the nine-day losing streak will be the first since February 1978.

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