Dow up 4.73
to another record

NEW YORK--The DowJones industrial average edged higher today, closing at at record high for the fourth straight session despite a worrisome jump in interest rates in the bond market.

The Dow, which on Friday closed above 8.500 for the first time, overcame a 35 point deficit and finished 4.73 points higher to close at 8.550.45.

Several broad-market measures also withstood the drag of rising interest rates, but the technology-heavy Nasdaq market was stung by profit-taking.

Advancers beat decliners by a 4-to-3 margin on the New York Stock Exchange, with 1,647 up, 1,268 down and 538 unchanged. NYSE volume was 590.66 million shares vs. 573.74 million yesterday.

The Standard and Poor's 500 list fell 1.64 to 1.047.70 from Friday's record close, but the NYSE composite index rose 0.37 to 544.63, it's fourth closing record in a row.

The Nasdaq composite index dropped 11.84 to 1,758.67 The Russell 2000 index of smaller companies fell 0.29 to 461.54, but the American Stock Exchange composite rose 4.12 to 710.24, about 10 points shy of record territory.

Stocks were pressured throughout the day by a weak bond market, where interest rates rose above a key level following a report that spurred some rare inflation worries.

The price of the Treasury's main 30-year bond was off 1-5/16 point, or $13.12-1/2 per $1,000 in face value, by late afternoon, while its yield climbed to 6.02 percent from 5.92 percent late Friday.

Overseas, Tokyo's Nikkei stock average rose 2.6 percent.