NEW YORK — A closely watched measure of consumer confidence soared in April, pulling stocks off an early slide and leaving them with just modest losses as investors yesterday grew hopeful that a better outlook among spenders will translate into cash register receipts.

IBM Corp.'s decision to boost its dividend and spend more to buy back stock gave the market another shot of confidence, but an afternoon rally petered out in the last hour.

The market's confidence took a hit ahead of the consumer report amid worries that a growth in swine flu cases could hurt industries such as travel and tourism.