Stocks recovered from early lows to finish almost unchanged Wednesday as the market proved resilient in the face of more worries about Middle East conflict. The Dow Jones industrial average eased 0.1 percent, the S&P 500 was flat and the Nasdaq edged up 0.1 percent. Bond yields, the dollar and oil prices rose.

Israel's statement that it will retaliate against Iran after Iran fired rockets at Israel generated concern and more uncertainty about escalating conflict, but the immediate reaction was modest. Good gains in technology shares, especially Apple and chipmakers, underpinned the market. Energy stocks also had a good day on buoyant oil prices in response to the Iran-Israel conflict.

Among sectors, other strong segments included financials and utilities. On the downside, consumer discretionary lagged after Nike tanked on disappointing quarterly results and after it withdrew its guidance.

Market Reflections track market reaction to the trading day's major events. Economic data, policymaker speeches, and company news are featured in this report as well as key indexes and financial instruments.

Understanding why markets respond as they do is fundamental for an investor. Market Reflections help explain how the day's events, news, and data impact the outlook for the economy and for market prices.