Stocks recovered initial big losses to end slightly better Wednesday with a late uptick on month-end position-squaring. The Dow Jones industrial average rose 0.4 percent, the S&P 500 firmed 0.2 percent, and the Nasdaq eased 0.1 percent. Bond yields and oil prices declined while the dollar was mixed versus major currencies.

Weaker than expected quarterly gross domestic product and ADP employment figures at the start of the day spurred an early selloff in stocks and rally in bonds, with oil prices also much lower on recession worries. The market derived support from a friendly inflation reading alongside upbeat personal income and spending results for March. Some traders apparently bought stocks at the lows as analysts said noise in the quarterly GDP report exaggerated the weakness. The market absorbed a batch of earnings, including results from food company Mondelez, and PPG, the chemicals company, which both gained after topping expectations. Notable decliners on earnings disappointments included Super Micro Computer and Starbucks.

Best sectors included beverages, chain stores, pharma, health care, grocery stores, telecom, and real estate investment trusts. On the downside, big technology firms had a bad day, including Tesla. Other lagging sectors included banks, insurance, credit cards, autos, energy and cruise lines.

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.