Stocks gain as European central bank says it’s ready to act

NEW YORK (AP) — Stocks are closing mostly higher as markets regain their footing after a turbulent few weeks.

The Dow Jones industrial average edged up 23 points, or 0.1 percent, to 16,374 Thursday.

The Standard & Poor’s 500 index rose two points, also 0.1 percent, to 1,951. The Nasdaq composite slipped 16 points, or 0.4 percent, to 4,733.

European markets rose broadly. The head of the European Central Bank said it’s ready to give the region a bigger dose of stimulus should inflation fail to pick up.

Joy Global plunged 15 percent, the most in the S&P 500, after the maker of mining equipment posted earnings that fell far short of analysts’ estimates.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.17 percent.