Dow, S&P turn up; worries about financials ease

NEW YORK (Reuters) - The Dow industrials and S&P 500 index briefly turned higher and were trading near flat on Thursday as comments by Lehman Brothers eased some worries about the banking and financial sector.

Also helping stocks were comments by a Federal Reserve president, who said "stressful periods" in the economy and markets will abate.

The Dow Jones industrial average <.DJI> was up 15.96 points, or 0.13 percent, at 12,438.82. The Standard & Poor's 500 Index <.SPX> was up 2.97 points, or 0.22 percent, at 1,344.10. But the Nasdaq Composite Index <.IXIC> was down 11.44 points, or 0.49 percent, at 2,312.92.

(Reporting by Caroline Valetkevitch; Editing by Jan Paschal)

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