U.S. stocks rebounded modestly Friday after plunging Thursday on dismal economic readings and a Goldman Sachs client recommendation to short the S&P 500 index with a target level of 1,285.

In midday trading, the Dow Jones Industrial Average rose 48.25 to 12,621.82, the S&P 500 added 4.22 to 1,329, and the Nasdaq Composite was up 16.77 to 2,875.86.

The S&P 500 stock index, which fell 2.38 percent on Thursday, has fallen 6.26 percent in April 2.