NEW YORK -- Stocks closed marginally higher today as investor optimism about interest rates overcame profit concerns about Intel Corp. and Gillette Co.
Dow up 13.93
The Dow Jones industrial average closed up 13.93 at 10,855.56. The Dow gained 365.05 this week, having risen each day.
Broader stock indicators were mostly higher today.
The Standard & Poor's 500 gained 2.94 to 1,342.84 and the Nasdaq composite index rose 19.29 to 2,563.44.
Advancers beat decliners by a 10-to-9 margin on the NYSE, with 1,529 up, 1,377 down and 636 unchanged. NYSE volume totaled 904.33 million shares, vs. 696.39 million yesterday.
The NYSE composite index rose 0.48 to 636.55, but the American Stock Exchange composite index fell 0.12 to 768.57. The Russell 2000 index of smaller companies rose 1.67 to 445.05.
The 30-year, U.S Treasury bond fell 6/32, or $1.88 per $1,000 face amount, to 90 1/32. Its yield rose to 5.97 percent from 5.95 percent late yesterday.
Intel, the world's No. 1 maker of chips for personal computers, fell after Morgan Stanley Dean Witter & Co. cuts its rating on the stock because of delays in launching a new chip for laptop computers. But other computer and semiconductor shares held their ground.
"This seems to be a company-specific not industry-specific issue," said Arthur Hogan, chief market analyst at Jeffries & Co.
On the New York Stock Exchange, Gillette fell after the razor and blade maker warned second-quarter profits will miss analysts' forecasts for the rest of this year because of weak sales in Brazil, Russia and Japan.