US stocks gain as European Central Bank ready to act

US stocks have closed mostly higher as markets regain their footing after a turbulent few weeks.

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

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

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

Joy Global plunged 15%, 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 but the yield on the 10-year Treasury note fell to 2.17%.