NEW YORK -- Technology and drug stocks rose sharply today, leading several market measures to new highs, but blue-chip shares pulled back as investors locked in some of last week's record-setting gains. Dow off 25.66
The Dow Jones industrial average fell 25.66 points to close at 9,141.84 after falling 76 points earlier in the afternoon. The blue-chip barometer gained 90 points on Friday, closing at a record 9,167.50.
Decliners led advancers by an 8-to-7 margin on the New York Stock Exchange, with 1,375 up, 1,582 down and 553 unchanged. NYSE volume was 595.19 million shares, down sharply from Friday's 662.12 million.
Broad-market measures also rebounded late in the day, with the Standard & Poor's 500 and Nasdaq composite closing at record highs.
The S&P 500 rose 0.93 to 1,123.65, the Nasdaq composite gained 20.54 to 1,887.14, but the NYSE composite index slipped 0.10 to 584.01. All three measures closed at record highs on Friday.
The Russell 2000 index of smaller companies rose 1.80 to a record 488.81. The small-company dominated American Stock Exchange composite index gained 3.58 to 747.95, surpassing its previous best close of 747.19 on April 3.
The price of the Treasury's main 30-year bond was down 23/32 point, or $7.19 per $1,000 in face value, by late afternoon, while its yield rose to 6 percent from 5.87 percent late Friday. Prices and yields move in opposite directions.
Bellwether technology shares rallied in advance of IBM's latest profit report, which was due after the close. Drug stocks also posted big gains amid reports of an extremely enthusiastic response to Pfizer Inc.'s new impotence pill.