NEW YORK -- Stocks edged lower today in lifeless trading as investors played it safe during an abbreviated Christmas Eve session. Dow off 31.64
The Dow Jones industrial average fell 31.64 points to close at 7,660.13 after surrendering an early 48-point gain. So far this year, the Dow is up 18.8 percent.
Decliners led advancers by an 8-to-7 margin on the New York Stock Exchange, with 1,258 up, 1,443 down and 598 unchanged. NYSE volume was 263.31 million shares at the 1 p.m. closing bell, vs. 293.20 million at the same point yesterday. Most broad-market indicators also turned lower after an early round of bargain hunting on yesterday's late downturn.
The Standard & Poor's 500-stock list fell 6.43 to 932.70, and the Nasdaq composite index fell 10.38 to 1,499.53, slipping below 1,500 for the first time since July.
The NYSE composite index dropped 2.53 to 492.32, the Russell 200 index fell 0.99 to close at 421.04, but the American Stock Exchange composite index rose 2.07 to 662.60.
Stocks drew some pressure from the bond market, where interest rates rose amid some signs of continued economic vigor that could aggravate inflationary pressures.
The price of the benchmark 30-
year Treasury bond dropped 19/32 point, or $5.94 per $1,000 in face value. Its yield, which moves in the opposite direction, rose to 5.91 percent from 5.87 percent yesterday.
Although South Korean stocks plunged again today, Japanese and other foreign markets held steady, setting a positive tone for the open on Wall Street.
South Korea's main stock index, which tumbled a record 7.5 percent yesterday, slid an additional 4.1 percent today.