NEW YORK – Stocks fluctuated Monday as investors did a little buying after four days of heavy selling.

The Dow Jones industrial average erased its early losses and was up 11 points. Other major stock indexes rose slightly. Interest rates dropped as investors looking for safe investments bought U.S. Treasury notes and bonds.

The market initially pulled back after a regional manufacturing report fell short of forecasts and Japan became the latest country to show signs of slowing growth. Both reports raised investors’ concerns about the pace of the global economic recovery. Analysts said Monday’s trading was just a pause following four days of losses that sent the Dow down almost 400 points.

“The market is really being controlled by (short-term) traders,” said Mike Rubino, CEO at Rubino Financial Group in Troy, Mich. “The long-term investor doesn’t appear to be anywhere in sight.”

Without those long-term investors, trading is expected to remain erratic for the foreseeable future.

In midday trading, the Dow rose 10.82, or 0.1 percent, to 10,313.97. The Standard & Poor’s 500 index rose 1.50, or 0.1 percent, to 1,080.75, while the Nasdaq composite index rose 13.40, or 0.6 percent, to 2,186.88.

About three stocks rose for every two that fell on the New York Stock Exchange, where volume came to 288.5 million shares.

Investors continued buying Treasurys Monday, driving interest rates lower. U.S. government bonds are looking more and more appealing to investors wanting to find a safe place for their money as the economy cools and stocks drop.

The yield on the benchmark 10-year Treasury note, which moves opposite its price, fell to 2.60 percent from 2.68 percent late Monday. Its yield is often used to help set interest rates on mortgages and consumer loans.

The yield on the 10-year note is near the level it last hit in March 2009 when stocks fell to a 12-year low.

Investors who are concerned about the U.S. economy got some bad news from overseas Monday. Japan said its economy grew just 0.1 percent in the second quarter, well below the 1.2 percent growth in the first quarter and short of expectations. The report follows signs last week that both the U.S. and Chinese economies are not growing as fast as earlier in the year.

Meanwhile, the Federal Reserve Bank of New York said manufacturing activity in the state rebounded slightly this month after falling sharply in July. Despite the modest gain, activity did not expand as much as had been forecast, which indicates that economic growth remains tepid.

The New York Fed’s Empire State Manufacturing Index rose to 7.1 in August from 5.1 in July. Economists polled by Thomson Reuters forecast the index would rise to 8. It was 19.6 just two months ago.

Regional manufacturing reports have shown a broad slowdown in recent months, a trend seen in other industries as well. It is particularly discouraging because manufacturing had provided the most consistent signs of growth during the first few months of the year.

The reports are the latest to indicate that the global economy is growing, but not as fast as it did during the first few months of the year. The slowdown has concerned traders who were predicting growth to pick up during the second half.

“We’re scared of our own shadows here,” said Jamie Cox, managing director at Harris Financial Group in Richmond, Va. “We need to readjust our signs from above-trend growth. If not, we’re going to be perennially disappointed.”

The news about the housing market was also discouraging. The National Association of Home Builders said its monthly index of builders’ sentiment fell in August for the third straight month.

Rubino said the weak housing market will force the government to keep interest rates low for a long time. That makes bonds an attractive investment right now because there is little fear that interest rates will climb. Higher rates eat into returns on bonds.

Lowe’s Cos. said Monday its quarterly profit and revenue rose, though both measures fell short of forecasts. The home-improvement retailer also lowered its full-year revenue forecast.

Shares of Lowe’s rose, climbing 40 cents, or 2 percent, to $19.99.

Overseas, Japan’s Nikkei stock average fell 0.6 percent. Britain’s FTSE 100 and Germany’s DAX index both rose less than 0.1 percent. France’s CAC-40 fell 0.4 percent.

NEW YORK – News that economic growth slowed during the spring gave the stock market a fitting end to a choppy July — yet another back-and-forth day.

The Dow Jones industrial average, down almost 120 points in the first minutes of trading, recovered and seesawed throughout the session. The Dow was up 17 in late afternoon. The other major indexes also rose modestly. Traders opted for the safety of Treasury bonds, and that sent interest rates lower.

But stocks were on track for their strongest month in a year. The Dow was up 7.1 percent going into Friday’s trading.

The Commerce Department said the gross domestic product, the broadest measure of the economy, grew at an annual pace of 2.4 percent from April to June. That’s less than the 2.5 percent economists polled by Thomson Reuters had forecast.

At first the report confirmed investors’ belief that the recovery is weakening as unemployment remains high and government stimulus programs end. Consumers cut back on their spending because of job worries and companies spent less to rebuild inventories.

But analysts said that as investors read deeper into the report, it didn’t look as bad as they initially thought. They found some good news in consumers’ savings rate.

“The consumer actually decided to save more,” Jason Pride, director of investment strategy at Glenmeade, an investment management company. “Consumers have done more to repair their balance sheets than thought.”

Pride said that means that those extra savings will eventually be spent, giving the economy a lift. Consumer spending accounts for the bulk of economic activity.

Business spending on equipment and software jumped in the second quarter by the biggest amount in 13 years. That was encouraging, analysts said, because it means companies are eventually going to start adding jobs.

“Companies are spending and eventually it will turn into employment,” said Ron Weiner, president and CEO at RDM Financial Group.

It wasn’t surprising that stocks gave up their gains and turned lower. Trading has been erratic as weak economic numbers have conflicted with companies’ generally good second-quarter earnings and forecasts for the rest of the year. Investors have been quick to cash in their gains because they don’t have a sense of where the market is headed.

In afternoon trading, the Dow Jones industrial average rose 17.48, or 0.2 percent, to 10,484.64. The Standard & Poor’s 500 index rose 3.34, or 0.3 percent, to 1,104.87, while the Nasdaq composite index rose 9.09, or 0.4 percent, to 2,260.78.

Rising stocks outpaced losers by about 2 to 1 on the New York Stock Exchange where volume came to 745 million shares.

Volume was extremely light even for a summer day. That continued a trend that has been seen for much of July. Analysts say many investors, uncertain about the where the market is heading, are staying on the sidelines or moving money into safer alternatives.

That strategy sent Treasurys higher Friday. The yield on the 10-year Treasury note, which moves opposite its prices, fell to 2.91 percent from 2.99 percent. Its yield is often used as a benchmark for interest rates on mortgages and other consumer loans. A yield below 3 percent suggests investors are worried about long-term growth and don’t fear inflation will be a problem anytime soon. Inflation is a threat to the long-term value of bonds.

Investors got some mildly good news from two other economic reports. The University of Michigan/Reuters consumer sentiment index for July rose slightly more than expected to 67.8 from a preliminary reading of 66.5. Economists expected it to rise to 67.

And the Chicago Purchasing Managers Index, which measures manufacturing activity in the Midwest, rose unexpectedly to 62.3 this month from 59.1 in June. Economists were expecting a drop to 56.5. The report is seen as an indicator of how the Institute for Supply Management’s nationwide index is likely to come in when it’s released on Monday.

Traders were also being cautious because they’re waiting for a series of key reports next week that will give a first look at how the economy is doing in the current quarter. The Institute for Supply Management releases its reports on the manufacturing and services sectors during July and the Labor Department issues its report on employment for this month.

Economists predict the two ISM reports will show manufacturing and the services industry expanded in July but at a slower pace than in June.

Meanwhile, the unemployment rate likely inched higher to 9.6 percent in July from 9.5 percent in June as the government laid off more temporary census workers. Private employers likely added 90,000 jobs during the month, slightly better than in June.

Overseas markets mostly fell Friday after reports that Spain’s credit rating is likely to be cut by Moody’s Investors Service. The potential downgrade comes as the country’s unemployment rate jumped to a 13-year high of 20.09 percent and the government continues to grapple with rising debt problems.

Spain’s IBEX 35 fell 1.2 percent. Britain’s FTSE 100 fell 1.1 percent, Germany’s DAX index rose 0.2 percent, and France’s CAC-40 fell 0.2 percent. Japan’s Nikkei stock average fell 1.6 percent.

NEW YORK – Stocks are rising Wednesday as optimism from Intel’s strong earnings and outlook overshadowed a disappointing retail sales report.

The Dow Jones industrial average rose 34 points, putting the index inline to extend its six-day winning streak. The tech-heavy Nasdaq composite posted even bigger gains thanks to chipmaker Intel Corp.’s results.

Intel reported its biggest quarterly profit in a decade as large corporations started buying new computers for employees. Companies have been reluctant to upgrade technology during the downturn, so a return of spending could be a sign corporations are ready to start expanding their businesses again and hire new workers.

Intel’s profit and outlook, which surpassed analysts’ forecasts, are considered good signs for the economy because the chipmaker manufactures 80 percent of the processors that run PCs and has a large global reach.

Shares of Intel jumped 3.6 percent after the company reported strong earnings after the stock market closed Tuesday. Other chipmakers, including Advanced Micro Devices Inc., followed Intel higher.

The excitement from Intel’s profit forecast was tempered by a report showing shoppers cut back on spending for the second straight month.

The Commerce Department said June retail sales fell 0.5 percent. That’s worse than the 0.2 percent decline forecast by economists polled by Thomson Reuters. However, excluding autos, sales were down 0.1 percent, in line with expectations.

Shares of retailers, including J.C. Penney Co., Macy’s Inc. and Target Corp., all fell after the monthly sales report.

Retail sales are critical to the economic recovery because shoppers account for a large amount of U.S. economic activity. High unemployment has kept customers out of stores and could hold retailers’ earnings in check.

The sales report added to the mixed signals on the pace of a recovery. Economic reports have largely showed a rebound is slowing, but recent earnings have largely topped expectations. Companies have also been optimistic in their outlooks for growth during the second half of the year.

“We have a lot of conflicting news here,” said Bob Enck, president and CEO of Equinox Fund Management in Denver. Until economic and earnings reports more closely align, the market is likely to remain choppy and volatile, Enck said.

In midday trading, the Dow rose 33.67, or 0.3 percent, to 10,396.92. The Standard & Poor’s 500 index rose 3.51, or 0.3 percent, to 1,098.85, while the Nasdaq rose 17.77, or 0.8 percent, to 2,259.80.

Intel shares rose 75 cents to $21.76. AMD rose 11 cent to $7.63. J.C. Penney fell 37 cents to $22.82, while Macy’s dropped 30 cents to $18.17. Target fell 46 cents to $49.43.

Advancing stocks narrowly outpaced those that fell on the New York Stock Exchange. Volume came to 352.7 million shares, compared with 367.7 million shares traded at the same time Tuesday.

Trading was tentative ahead of the release later Wednesday of the minutes from the Federal Reserve’s June meeting. Investors look at those comments closely for insight into how fast the Fed thinks the economy will grow in the second half of the year.

The Dow is trying to extend a six-session winning streak that has pushed the index up 7 percent, its best stretch since last July. The recent run-up has erased nearly all the Dow’s losses for the year.

The Dow rose 147 points Tuesday after aluminum producer Alcoa and railroad company CSX both reported better-than-expected profit. The pair also provided optimistic outlooks for the rest of the year.

Stocks were in a slump in May and June as economic reports showed the recovery wasn’t proceeding as fast as hoped. Rising debt problems in some European countries also added to the markets’ turbulence.

However, early earnings reports have shown that slow economic growth is not hurting corporate profits. Investors’ concerns about a further slowdown later in the year have not been shared by companies, which have largely provided upbeat outlooks for future quarters.

“The forecasting has been great,” said Russell Croft, portfolio manager at Croft Leominster Investment Management in Baltimore. It has been outlooks, more than the most recent quarter’s results, that have pushed stocks higher in recent days, Croft added.

Bond prices rose slightly, pushing interest rates lower in the Treasury market. The yield on the benchmark 10-year Treasury note fell to 3.11 percent from 3.13 percent late Tuesday. That yield helps set interest rates on mortgages and other consumer loans.

The Russell 2000 index of smaller companies rose 0.33, or 0.1 percent, to 643.15.

Overseas, Britain’s FTSE 100 fell 0.4 percent, Germany’s DAX index rose 0.2 percent, and France’s CAC-40 fell 0.1 percent. Japan’s Nikkei stock average jumped 2.7 percent.