Dow drops 19.68

NEW YORK -- Leading market indexes posted slim gains, but most stocks fell today in a hesitant session before tomorrow's congressional report by Federal Reserve chairman Alan Greenspan.

The Dow Jones industrial average fell 19.68 points to 9,049.92. The loss halted a three-session, 265-point climb back toward May 13's record of 9,211.84. Decliners led advancers by a 9-to-7 margin on the New York Stock Exchange, with 1,299 up, 1,669 down and 540 unchanged. NYSE volume was 560.56 million shares, up from 533.68 million yesterday.

Broader stock indexes rose, led by the technology-heavy Nasdaq composite, but declining issues led advancers overall.

The Standard & Poor's 500 rose 2.69 to 1,118.41, and the technology-heavy Nasdaq composite index climbed 12.99 to 1,800.76. The NYSE composite index rose 0.68 to 577.50, and the American Stock Exchange composite index gained 0.38 to 714.07. The Russell 2000 index rose 0.40 to 456.74.

The price of the Treasury's main 30-year bond was off 2/16 point, or $1.25 per $1,000 in face value, by late afternoon, while its yield rose to 5.79 percent from 5.78 percent late yesterday.

Although the Dow industrial average was down, the Dow Jones transportation average rose 104.33 points, or 3.11 percent, to 3,461.71.

With no major economic reports due until later in the week, trading was very cautious today as investors grew leery of what Greenspan might say tomorrow.

Analysts will be looking for clues as to whether Fed officials might raise the central bank's key lending rates.

Overseas, Tokyo's Nikkei stock average rose 1.5 percent.