NEW YORK -- Stocks survived a midday retreat and ended higher today as investors tried to recover last week's losses. Dow grabs 63
The Dow Jones industrial average ended 63.02 points higher to close at 7,819.31.
Heading into the holiday-shortened week, broad-market indexes showed modest improvement. The Standard & Poor's 500-stock list climbed 6.93 to 953.71, the NYSE composite index was up 3.09 to 500.48 and the American Stock Exchange composite index climbed 2.39 to 663.07. The Nasdaq composite index rose 7.30 to 1,532.04. The Russell 2000 index rose 2.85 to 422.88.
Stocks shot up as the market opened today and appeared to be on the way to erasing the losses of the previous session. But by midday, shares had given up most of their gains.
Investors appeared to rethink their early exuberance and reacted instead to another rocky showing in Asia. Tokyo's Nikkei stock average fell 3.4 percent, dropping below the 15,000-point mark for the first time since July 1995.
Treasury bond prices were higher at midday, with yields once more flirting with four-year lows. The price of the Treasury's main 30-year bond was up 9/16 point, or $5.62 per $1,000 in face value, by late afternoon, while its yield fell to 5.88 percent from 5.92 percent late Friday.
On Friday, yields at one time were as low as 5.86 percent, a level last seen in October 1993, before bouncing up toward the close.
Technology stocks, which have dragged down the market repeatedly in the past few weeks, posted some gains. Compaq Computer, Texas Instruments and International Business Machines all rose.