Stocks Edged Up in Volatile Trading

U.S. stocks edged up in a volatile session on Thursday on an indication that the European Central Bank would take more policy action if needed to boost a struggling euro zone economy. At close, the Dow Jones Industrial Average gained 69.94 points, or 0.40%, to 17,544.47. The S&P 500 added 7.64 points, or 0.38%, to 2,031.21. The Nasdaq Composite closed 17.75 points, or 0.38%, higher at 4,638.47.

ECB President Mario Draghi indicated support for additional measures to support the euro zone economy, if necessary, and said the ECB governing council was unanimous in its commitment to using unconventional measures.

Fannie Mae and Freddie Mac reported sharply lower profits but still earned enough for a combined $6.8 billion payment to the U.S. Treasury, as the mortgage-finance companies also cited the potential for a thaw in home-loan access.

Walt Disney Co. (DIS) late Thursday reported its fiscal fourth-quarter net income rose to $1.5 billion, or 86 cents a share, from $1.39 billion, or 77 cents a share, a year ago. Revenue grew to $12.39 billion from $11.57 billion.

First Solar Inc. (FSLR) said Thursday that third-quarter net income was $88.4 million, or 87 cents a share, compared with $195 million, or $1.94 a share, for the same period a year ago. Sales were $889 million against last year’s $1.27 billion.

Crude-oil futures fell further on Thursday after the Organization of the Petroleum Exporting Countries cut demand forecasts for its oil and investors worried about the health of the eurozone’s economy. On the New York Mercantile Exchange, light, sweet crude futures for delivery in December fell 77 cents, or 1%, to settle at $77.91 a barrel.