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Investors rode out another turbulent day on Wall Street on Thursday that kept stock indexes flipping between gains and losses until a late-day bounce gave the market a modest gain.

Worries about a possible recession collided with hopes that the strongest part of the U.S. economy — shoppers spending at stores and online — can keep going.

The major U.S. stock indexes spent much of the day reacting to big moves in U.S. government bond yields, which fell sharply in the early going, fluctuated for much of the day, and then recovered some of their decline by mid-afternoon.

U.S. government bonds have been among the loudest and earliest to cry out warnings about the economy. Stocks fell sharply on Wednesday after a fairly reliable warning signal of recession emerged from the bond market. Even after the slide in yields eased Thursday, the U.S. bond market continued to show concern as yields ended broadly lower.

The S&P 500 rose 7 points, or 0.2%, to 2,847.60. The benchmark index swung between a 0.6% gain and 0.5% loss. A day earlier, it plunged 2.9%.

The Dow Jones Industrial Average, coming off its worst day of the year, gained 99.97 points, or 0.4%, to 25,579.39.

Other indexes didn’t catch the bounce. The Nasdaq composite dropped 7.32 points, or 0.1%, to 7,766.62, while the Russell 2000 index of smaller companies lost 5.87 points, or 0.4%, to 1,461.65.