NEW YORK -- Blue-chip stocks edged higher, but technology shares took another drubbing as the delay of new Intel Corp. chip compounded worries about the impact of a weak Asian economy on computer industry profits. Dow up 22.42
The Dow Jones industrial average rose 22.42 points to 8,922.37 after retreating from an 81-point advance to within 20 points of 9,000. The Dow, which sank 215 points last week as the overseas backdrop took another turn for the worse, briefly dipped into negative territory late in the session.
Decliners led advancers by a 3-to-2 margin on the New York Stock Exchange, with 1,208 up, 1,842 down and 484 unchanged. NYSE volume was 536.57 million shares vs. 552.78 million Friday.
Broader indexes fell, with the technology-laden Nasdaq composite plunging nearly 2 percent as the recent exodus from big computer-related names picked up steam.
The Standard & Poor's 500 rose 0.16 to 1,090.98, and the Nasdaq composite fell 32.05 to 1,746.82. The NYSE composite index fell 0.14 to 565.14, and the American Stock Exchange composite index lost 7.09 to 707.51. The Russell 2000 index of smaller companies fell 5.45 to 451.17.
The price of the Treasury's main 30-year bond was up 13/32 point, or $4.06 per $1,000 in face value, by late afternoon, while its yield fell to 5.77 percent from 5.80 percent late Friday. Prices and yields move in opposite directions.
Intel's shares tumbled nearly 5 percent following Friday's announcement that the chipmaker is delaying by at least six months a new semiconductor that's integral to the plans of many computer and software companies.
Overseas, Tokyo's Nikkei stock average fell 2.2 percent, and London's FTSE 100 fell 0.6 percent. German markets were closed for a holiday.