NEW YORK -- Stocks extended a modest rebound from Tuesday's sell-off, but a sharper rally faltered today as Japan's new leader failed to impress investors with his plans to stimulate that nation's sagging economy. Dow up 20.34
The Dow Jones industrial average finished just 20.34 points higher at 8,598.02 after retreating from a midday gain of 132 points, closing the week about 740 points below the record of 9,337.97 set three weeks ago on July 17. It finished the week down 285.27 points.
The Standard & Poor's 500 fell 0.18 to 1,089.45, and the Nasdaq composite index rose 17.26 to 1,846.77.
Advancers outnumbered decliners by a 2-to-1 margin on the New York Stock Exchange, with 2,002 up, 996 down and 528 unchanged.
NYSE volume totaled 756.26 million shares vs. 759.75 million yesterday.
The NYSE composite index rose 1.70 to 549.50, and the American Stock Exchange composite index rose 7.12 to 684.07.
The Russell 2000 index of smaller companies rose 9.18 to 415.80.
The benchmark 30-year Treasury bond rose 62-1/2 cents, or $6.25 per $1,000 bond, pushing its yield down 4 basis points to 5.63 percent.
The afternoon pullback came as the Japanese yen plunged in currency trading amid disappointment that Prime Minister Keizo Obuchi offered nothing new in a speech about his plans to cut taxes and clean up debt-ridden banks.
The market had started the day strong after a new report showing that the economy remained solid last month despite the continuing drag from Asia's fiscal crisis, while inflationary pressures remain tame.