Stocks rose yesterday as investors, clinging to hopes that corporate scorecards could hint at a recovery in profits later in the year, crept back into the market after a last week's harsh sell-off. Volume was lighter than usual as Wall Street hesitated to make big bets before the second-quarter earnings reporting period swings into high gear later this month.

The Nasdaq Composite Index gained 22.55 points, at 2,026.71, recovering somewhat from a 7 per cent slide last week.

AT&T, which received an unsolicited $44.5 billion bid from cable company Comcast for its broadband unit, led the blue-chip gauge higher with a $1.98 gain at $18.70. The broader Standard & Poor's 500 Index was up 8.19 points, at 1,198.78.