NEW YORK — Wall Street held firmer on Wednesday, a day after strong reports on the economy hurt U.S. stocks by stirring up worries that inflation and interest rates may remain higher than expected.

The S&P 500 rose 0.2% to recover a bit of its 1.1% slump from the day before. The Dow Jones Industrial Average added 106 points, or 0.3%, and the Nasdaq composite edged down by 0.1%.

In the bond market, which has been the bigger focus for Wall Street recently, the moves were also more modest following the last month’s charge higher for yields. Higher yields hurt stocks by making it more expensive for companies and households to borrow and by pulling some investors toward bonds and away from stocks.

The increased calm returned to the market after reports on the economy Wednesday weren’t as strong as Tuesday’s. That can counterintuitively help Wall Street because it raises hopes that the Federal Reserve may keep cutting short-term interest rates. Wall Street loves lower rates, which can goose the economy and boost prices for investments.