Blue-chip stocks recover prior day's steep drop

NEW YORK (MarketWatch)
U.S. stocks rallied Tuesday to recoup much of the prior day's steep drop, with a range-bound market on the prowl for signs of central bank action and any developments related to Europe
"The volatility of the past few weeks is probably going to be be with us through the summer," said Michael Sheldon, chief market strategist at RDM Financial Group Inc. in Westport, CT. After Monday's 142.97-point fall, the Dow Jones Industrial Average rose 162.57 points, or 1.3%, to finish at 12,573.80
The S&P 500 Index added 15.25 points, or 1.2%, to 1,324.18, leaving it 0.1% off for the week so far The Nasdaq Composite advanced 33.34 points, or 1.2%, to 2,843.07, down 0.5% from Friday's close.