Inching higher

Stocks pared earlier losses and ended mixed, as investors grew hopeful that interest rate cuts from China and Europe, along with tepid U.S. economic data, could bring more meaningful central bank action. The market is bidding on the notion that further quantitative easing is likely underway, not only on an international basis but in the United States, as well. Three reports released on Thursday suggested a pick up in the U.S. labor market. The dollar rose against the euro, British pound and the Japanese yen. The S&P500 implied volatility index edged higher as global fears prevailed.