NEW YORK -- Stocks resumed their rebound today after a one- Dow up 30.64
day setback, as the early rush of company reports on the third quarter remained generally encouraging.
The Dow Jones industrial average swung from an early 60-point drop to a 110-point gain, but finished just 30.64 points higher at 7,968.78 thanks to a late pullback.
Broader indexes fared better than the Dow, which fell 63 points yesterday, interrupting a rally that began Thursday as the market approached new lows for the year.
The Nasdaq composite index, which took the heaviest pounding before last week's turnaround, rose 31.53 points, or 2.09 percent, to 1,540.98 as leading technology names continued to meet or beat Wall Street's skeptical profit projections. The Standard & Poor's 500 rose 10.76 to 1,005.56.
Advancers beat decliners on the New York Stock Exchange, with 1,862 up, 1,182 down and 469 unchanged. NYSE volume totaled 782.88 million shares vs. 725.89 million yesterday.
The NYSE composite index rose 4.84 to 496.98, and the American Stock Exchange composite index rose 5.15 to 583.01.
The Russell 2000 index of smaller companies rose 4.65 to 324.98.
The 30-year Treasury bond jumped 1-7/32 to 107-16/32, with the yield falling to 5.01 percent.
Intel Corp. topped Wall Street's cautious forecast for the third quarter by a wide margin, but the chipmaker wasn't quite enthusiastic about the current quarter and its shares fell $1 to $82.56.
Compaq Computer Corp.'s profit tumbled 78 percent, but the results were in line with Wall Street's deflated expectations and the stock rose $1 to $25-1/2.