NEW YORK -- Federal Reserve Chairman Alan Greenspan left financial markets unscathed and unimpressed today as he reasserted the Fed's willingness to raise interest rates at any sign of a rebound in inflation. Dow slips 6.97
Associated PressMarket indexes ended the session with mixed results. The Dow Jones industrial average fell 6.97 to close at 10,995.82. The blue-chip index spent much of the afternoon in positive territory before falling back in the final hour of trading. Broader stock indicators, however, were modestly higher.
The Standard & Poor's 500 rose 2.56 to 1,365.40, and the Nasdaq composite index gained 26.51 to 2,705.84.
Decliners beat advancers by a 7-to-6 margin on the New York Stock Exchange, with 1,592 down, 1,340 up and 589 unchanged. NYSE volume totaled 694.75 million shares vs. 723.43 million yesterday. The NYSE composite index slipped 0.29 to 640.40 and the American Stock Exchange composite fell 3.02 to 789.60. The Russell 2000 index rose 0.13 to 446.61.
The 30-year U.S. Treasury bond slipped 1/32, or 31 cents per $1,000 face amount, to a price of 89 17/32. Its yield was unchanged at 6.01 percent. The yield on two-year notes rose 2 basis points to 5.56 percent.
After the stock market closed today, Compaq Computer Corp., the world's No. 1 personal computer maker, said it had a second-quarter loss in line with analysts forecasts and that it will cut as many as 8,000 more jobs, or 12 percent of its work force, to reduce costs. The loss was $184 million, or 10 cents a share. A year earlier, Compaq had profit from operations of $32 million, or 2 cents. Sales rose to $9.42 billion from $5.83 billion.