Stocks end day
with slight gains

NEW YORK » Stocks gained slightly yesterday as crude-oil prices slid and technology stocks rose.

Wall Street crept forward as oil prices wilted from last week's record highs, falling more than $1 a barrel in mid-afternoon trading. A barrel of light crude settled at $66.28, down 59 cents, on the New York Mercantile Exchange.

Technology was one of the stock market's strongest sectors. Agilent Technologies Inc. rose $3.92, or 15 percent, to $30.33 after it said it will sell its chip unit to two buyout firms for $2.7 billion. Apple Computer Inc., Texas Instruments Inc. and Qualcomm Inc. also boosted the sector.

Volume was light. After the market seesawed last week to the barest of gains, the August doldrums descended on Wall Street yesterday. With earnings season winding down and no dramatic economic releases for the day, traders had little to motivate them.

"As long as the price of oil remains above $65 a barrel, investors are going to be very guarded and volume low," said Hugh Johnson, chairman and chief investment officer of Johnson Illington Advisors. "The other potentially exciting event is housing prices ... Sales of new homes will be watched very carefully for any signal that the housing bubble is breaking."

Monthly data on existing home sales is due next Tuesday and data on new home sales is due next Wednesday.

The Dow Jones industrial average rose 34.07, or 0.32 percent, to 10,634.38.

Broader stock indicators were also slightly higher. The Standard & Poor's 500 index rose 3.48, or 0.28 percent, to 1,233.87, and the Nasdaq composite index rose 10.14, or 0.47 percent, to 2,167.04.

Bonds fell, with the yield on the 10-year Treasury note rising to 4.28 percent from 4.25 percent late Friday. The dollar was up against the euro. Gold prices were lower.

Fundamentally, the market is still on solid footing, "but of course, somewhere along the line, crude prices at these levels will weigh on economic activity if they don't come down within a reasonable time," said Peter Cardillo, chief strategist, senior vice president and market analyst, S.W. Bach & Co.

In company news, Agilent, which makes electronic test and measurement products, said it plans to use proceeds from the sale of its chip unit and other assets for a $4 billion share repurchase program.

Apple rose $1.58 to $47.68 after Piper Jaffray named it as top large-capitalization pick for the rest of 2005. Texas Instruments rose 41 cents to $32.20 and Qualcomm rose 67 cents to $41.46.