The Dow and S&P 500 rose in a choppy session on Wednesday on hopes that the recession was moderating and Procter & Gamble's stock jumped after it raised its dividend.
But the Nasdaq fell after Intel gave an uncertain revenue forecast, highlighting worries that the earnings season will show the corporate outlook remains murky.
Procter & Gamble
Hopes that the economic slump was showing signs of abating were lifted after a report showed manufacturing activity in New York State contracted less severely in April, while the Federal Reserve said the economy continued to weaken but the speed of the contraction was fading.
But Intel Corp
The Dow Jones industrial average <.DJI> rose 43.41 points, or 0.55 percent, to 7,963.59. The Standard & Poor's 500 Index <.SPX> added 2.62 points, or 0.31 percent, to 844.12. The Nasdaq Composite Index <.IXIC> dropped 14.14 points, or 0.87 percent, at 1,611.58.
(Editing by Jan Paschal)