NEW YORK -- Stocks pulled higher today, led by technology and retail shares, despite another weak day in the bond market. Dow rises 4.41
The Dow Jones industrial average edged into positive territory, rising 4.41 points to close at 8,198.45, after erasing an early 60-point deficit.
Advancers led decliners by a small margin on the New York Stock Exchange, with 1,496 up, 1,380 down and 539 unchanged. NYSE volume totaled 456.00 million shares vs. 511.66 million on Friday.
Broader stock indicators posted slightly bigger gains, led by the technology-heavy Nasdaq composite index, which closed at a record high for the fourth consecutive session.
The Standard & Poor's 500-stock list rose 3.16 to 950.30, and the NYSE index rose 0.95 to 491.93. The Nasdaq index rose 11.11 to 1,605.44, and the American Stock Exchange composite rose 2.40 to 646.59, beating Thursday's record close of 646.30.
Bond prices fell today even after a report which seemingly bolstered arguments that economic activity has been slowing enough to keep inflation in check.
The Commerce Department reported that construction spending unexpectedly tumbled 1.1 percent in June, the worst showing in six months.
The May reading, however, was revised sharply upward to an increase of 0.3 percent from the initial estimate of a 1.8 percent drop.
The price of the Treasury's main 30-year bond was down 9/32 point by late afternoon, while its yield rose to 6.47 percent from 6.44 percent late Friday. Prices and yields move in opposite directions.