U.S. stocks mostly rose Thursday, as markets get accustomed to the idea of investing with less of a safety net from central banks around the world.
The European Central Bank laid out its plan to pull back from the stimulus it's pumped into markets, but it also said it plans to hold off on raising interest rates for longer than some investors expected. More evidence arrived that the U.S. economy is improving, meanwhile, which helped send the S&P 500 to its fourth gain in the last five days.
The S&P 500 index rose 6.86 points, or 0.2 percent, to 2,782.49.
The Dow Jones industrial average slipped 25.89, or 0.1 percent, to 25,175.31.
The Nasdaq composite rose 65.34, or 0.8 percent, to 7,761.04.
The Russell 2000 index of smaller-company stocks gained 8.19 points, or 0.5 percent, to 1,684.72.
For the week:
The S&P 500 is up 3.46 points, or 0.1 percent.
The Dow is down 141.22 points, or 0.6 percent.
The Nasdaq is up 115.53 points, or 1.5 percent.
The Russell 2000 is up 12.23 points, or 0.7 percent.
For the year:
The S&P 500 is up 108.88 points, or 4.1 percent.
The Dow is up 456.09 points, or 1.8 percent.
The Nasdaq is up 857.65 points, or 12.4 percent.
The Russell 2000 is up 149.21 points, or 9.7 percent.