Stocks Rise As Investors Mull Economy

Wall Street turned higher in erratic trading Thursday as a batch of reports pointed to an economy that is hurting, but not experiencing as rough a time as many investors expected after the near-collapse of the mortgage market.

Some deals at major companies including General Electric Co. and CBS Corp. also helped stocks stay afloat.

"The encouraging news is that the markets have become more functional, and large companies are able to make strategic purchases and sales, which previously was a very difficult thing to do," said Alan Gayle, senior investment strategist for RidgeWorth Capital Management. Still, he added, "the market is still trying to digest the severity of the slowdown." Read more