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Dow claws back lost ground (KSAT)

U.S. stocks were mixed Wednesday, with the Dow outperforming other indexes, as investors await the outcome of a key summit this week in Europe. The Dow Jones industrial average was up 4 points, or less than 0.1%, in afternoon trading. The S&P 500 slid 4 points, or 0.3%. The Nasdaq declined 12 points, or 0.4%. Stocks opened lower after comments from a German official damped hopes that a summit of European Union leaders this week will produce a breakthrough solution to the eurozone debt crisis. But the market recovered in the afternoon as investors remain cautiously optimistic that EU leaders understand what's at stake and will act forcefully to prevent a complete disaster. "Expectations are still high, and probably reasonable," said Paul Zemksy, head of asset allocation at ING Investment Management. "Certainly Germany and France understand the magnitude of the situation, and the ECB is on board with a rate cut expected tomorrow." On Thursday, the European Central Bank is widely expected to cut interest rates by up to 0.5% as the risk of a broad recession in Europe continues to rise. EU heads of state will meet Thursday and Friday in Brussels to discuss ...

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