NEW YORK -- Stock prices were mixed today as strength in Internet and computer stocks helped the technology sector outperform the broader market. Dow slips 60
The Dow Jones industrial average fell 60.47 to close at 11,126.89. The blue-chip index fluctuated between negative and positive territory for much of the session.
The Standard & Poor's 500 fell 1.44 to 1,394.42, but the Nasdaq composite index rose 28.82 to 2,771.86, a record close.
Decliners beat advancers by a 4-to-3 margin on the New York Stock Exchange, with 1,660 down, 1,297 up and 549 unchanged. NYSE volume totaled 824.09 million shares vs. 783.52 million yesterday.
The NYSE composite index fell 2.42 to 654.05, but the American Stock Exchange composite index rose 6.55 to 808.69. The Russell 2000 index of smaller companies gained 2.06 to 454.75.
The 30-year bond rose 18/32, or $5.63 per $1,000 face amount, to a price of 89 19/32. Its yield fell 2 basis points to 6.01 percent, after earlier climbing up to 6.10 percent.
Nasdaq's strength came from a wide array of technology shares. Yahoo! rose after reporting late yesterday that its second-quarter earnings easily topped Wall Street expectationsComputer maker Apple Computer rose after BancBoston Robertson Stephens upgraded its outlook on the stock. An analyst at the firm cited strong sales of Apple's iMac computer.
The broader market struggled to find direction. Alan Skrainka, chief market strategist at Edward Jones in St. Louis, said the continued strength of the U.S. economy, underscored today by strong reports from the nation's biggest retailers, has stunned investors.