Major U. S. indexes pulled ahead after early losses sparked by a drop in U. S. consumer credit activity, though markets in Asia and Europe tipped lower Thursday.

It was shown by a U. S. Federal Reserve report issued on Wednesday afternoon that consumer credit dropped 5.5 percent on an annual basis, declining by $11.5 billion in February. A slight rise was expected by Economists in consumer activity.

On Thursday, equity markets closed lower in Japan, China, India and Hong Kong. In midday trading, stocks indexes were off in France, Germany, Italy and Britain.

It was reported that by mid-afternoon on Wall Street, stocks found some traction. At the close, the Dow Jones industrial average added 29.55 points, 0.27 percent, to 10,927.07.

Adding 0.34 percent or 3.99 points, The Standard & Poor's 500 index went to 1,186.44. The Nasdaq composite index gained 0.23 percent, 5.65 points, to 2,436.81.

1,559 stocks advanced and 1,440 declined on a volume of 4.7 billion shares traded, on the New York Stock Exchange.

The benchmark 10-year U. S. Treasury note fell 7/32 to yield 3.888 percent.

It was further reported that the Euro fell to $1.3351 from Wednesday's $1.3354. Against the yen, the dollar rose to 93.35 yen from Wednesday's 93.30 yen. (With Inputs from Agencies)