1st LD Writethru: U.S. stocks mixed after two-day rally

U.S. stocks ended mixed on Friday, after a two-day rally, as global financial volatility continued to weigh on investors' sentiment.

The Dow lost 11.76 points, or 0.07 percent, to 16,643.01. The S&P 500 increased 1.21 points, or 0.06 percent, to 1,988.87. The Nasdaq Composite Index rose 15.62 points, or 0.32 percent, to 4,828.33.

Chinese stocks recovered more than 10 percent in two days after a five-day losing streak that wiped out a fifth of the market value.

The benchmark Shanghai Composite Index climbed 4.82 percent to close at 3,232.35 points on Friday, following a 5.34-percent rebound the previous day.

On the economic front, U.S. personal income increased 0.4 percent, and disposable personal income rose 0.5 percent, in July, according to the U.S. Commerce Department Friday.

The same month has also seen the world's largest economy's personal consumption expenditures increase 0.3 percent after an upwardly revised 0.3 percent rise in June.

Meanwhile, the final reading of Thomson Reuters/ University of Michigan's consumer sentiment index came in at 91.9 for August, well below market estimates.

Some analysts said recent data points to a possible interest rate hike this year.

The U.S. Commerce Department on Thursday revised its estimate for the real gross domestic product (GDP) in the second quarter to a growth of 3.7 percent, which is much higher than the 0.6-percent growth in the first quarter and has triggered a jump in U.S. stocks that day. Enditem