The Standard & Poor’s 500 Index rebounded from a 3.1 percent tumble in the final hour of trading, with banks in the gauge recovering most of an 11 percent slide. Coca-Cola, the largest soft-drink company, jumped 7.6 percent after European income rose and costs fell. The market’s earlier slide was spurred by a jump in jobless claims to a record and concern that Congress’s economic stimulus package will fail to revive the economy.
About six stocks advanced for every five that fell on the New York Stock Exchange. The S&P 500 added 0.2 percent to 835.19. The Dow slipped 6.77 points, or 0.1 percent, to 7,932.76, recovering most of a 245.55-point drop.