NEW YORK -- Big-name technology shares rallied today as money managers dressed their portfolios for end-of-quarter reports, but the broad market posted only slim gains after a summit on the Asian fiscal crisis proved uneventful. Dow off 1.74
The Dow Jones industrial average slipped 1.74 to close at 8,711.13.
Advancers beat decliners by a small margin on the New York Stock Exchange, with 1,543 up, 1,443 down and 540 unchanged. Decliners finished with a small lead in Nasdaq trading. NYSE volume was 527.66 million shares, down sharply from 693.48 million on Friday.
The technology-heavy Nasdaq composite index jumped more than 1 percent, led by technology favorites Intel Corp. and Dell Computer Corp., but most broad-market indicators posted only marginal gains.
The Standard & Poor's 500 rose 2.57 to 1,103.22, and the technology-heavy Nasdaq composite index gained 24.53 to 1,805.82. The NYSE composite rose 0.96 to 564.88, and the American Stock Exchange composite edged up 0.02 to 693.99. The Russell 2000 index of smaller companies rose 3.18 to 441.65.
U.S. bonds gained for a third day, helped by a rising dollar and speculation that Asia's struggling economies and markets won't recover soon. The benchmark 30-
year Treasury bond rose 5/32, or $1.56 per $1,000 bond. Its yield fell 1 basis point to 5.66 percent.
"All eyes are focused on what's going on across the Pacific Ocean," said Mitchell Stapley, who oversees about $2.5 billion in bonds at Lion Street Asset Management in Grand Rapids, Mich. "We've got a situation there that isn't going to turn around quick."