US stocks ended slightly higher on Monday after staging a late comeback from big losses on bargain hunting and short covering. The rebound came in the final hour as the euro recovered after sinking to a four-year low US$1.2235 amid fears that efforts to tackle the euro-zone debt crisis could stifle global growth.
The DJIA, down 180 points at one stage, edged up 5.67 points to 10,626, ending a two-session streak of triple-digit losses. The tech-rich Nasdaq Composite rose 7.38 points to 2,354 while the broad-market S&P 500 climbed 1.26 points to 1,137.
Adding to apprehension over the still fragile recovery, the Empire State Manufacturing Survey showed conditions for manufacturers improving in May for the 10th straight month, but at a slower pace than in April while the index of general business conditions dropped 12.8 points to 19.1 in May, its lowest level since Jan and far below the 30-point reading expected by most analysts.
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