US stocks mixed after brutal week of selling

US stocks bounced between gains and declines Friday, but did little to wipe out heavy losses from a brutal week of selling or ease the fears that hammered the market.Traders have been racked by growing fears that the economy is headed for another recession. Europe appears no closer to solving the debt crisis that threatens some of its biggest banks. US political leaders are in another standoff over spending that could force the government to shut down.Shares opened slightly lower, but turned positive in the first half-hour of trading. Later they bounced between small gains and losses.At 12:48 p.m. (1648 GMT), the Dow Jones industrial average rose 4 points to 10,738. The Standard & Poors 500 index rose 5, or 0.4 percent, to 1,134. The Nasdaq composite index rose 17, or 0.7 percent, to 2,472.Even with the gain, the Dow and the S&P are down more than 6 percent for the week. Recession fears and concerns about Europes debt crisis led traders to abandon all investments that carry risk from stocks to corporate bonds to commodities.Until Friday, shares had fallen every day this week. John Merrill, chief investment officer at Tanglewood Wealth Management in Houston, said Fridays respite might not last.Nothing goes in a straight line, even markets that are declining steeply, he said. Merrill said the market was moderating as traders bought shares that looked like bargains after the weeks selling. But he said the problems that have weighed on stocks for months now show no sign of letting up.Bargain-seekers bring some stability into the market for a day or two, until theyve used up their buying power, then the macro issues surface again and volatility returns to the market, he said.The Dow has fallen more than 15 percent since its recent peak on July 21. It fell below its 2011 closing low of 10,719, reached Aug. 10, several times Friday morning.Treasury yields rose slightly from record lows reached Thursday as the calmer stock market reduced traders hunger for lower-risk bets such as Treasurys. The yield on the benchmark 10-year Treasury note rose to 1.78 percent from 1.73 percent late Thursday. Demand for Treasurys drives their prices higher and their yields lower.