NEW YORK -- Technology shares posted more record-setting gains, but most stocks fell today amid fears that Japanese recovery efforts may be derailed by a government shakeup following yesterday's elections. Dow loses 9.5
The Dow Jones industrial average finished 9.53 points lower at 9,096.21 after meandering through the lackluster session.
Decliners led advancers by a 9-to-7 margin on the New York Stock Exchange, with 1,306 up, 1,666 down and 559 unchanged. NYSE volume was 570.55 million shares vs. 655.65 million Friday.
Most broad-market indicators also posted slim losses, but the technology-heavy Nasdaq composite index rose to a record high for the fourth straight session despite late Friday's profit warning by Applied Materials Inc.
The Standard & Poor's 500 rose 0.86 to 1,165.19, less than a point from yesterday's closing record of 1,166.38. The Nasdaq composite rose 22.49 to 1,965.53, pushing this year's gain to nearly 400 points, or 25.17 percent. The high-flying index has now surged 250 points, or 14.5 percent, since bottoming out exactly four weeks ago on June 15.
The NYSE composite index fell 0.76 to 591.42, and the American Stock Exchange index fell 0.19 to 730.47. The Russell 2000 index rose 0.32 to 458.75.
The benchmark 30-year Treasury bond fell 26/32 point, or $8.13 per $1,000 in face value, raising the yield 6 basis points to 5.68 percent.
Most Asian markets slumped today after yesterday's anemic showing by Japan's Liberal Democratic Party and the ensuing resignation of Prime Minister Ryutaro Hashimoto. However, Japan's Nikkei index rose 270 points, or 1.68 percent, to close at 16,360.30.