Dow rebounds to 96.57 gain
Associated PressNEW YORK - Stocks were mixed today, careening through a volatile session marked by continued worries about rising interest rates and inflation. Technology stocks fell sharply, bearing the brunt of investors' pessimism.
The Dow Jones industrial average rose 96.57 to close at 10,116.28. Most of the gain occurred in the final 30 minutes. Earlier in the day, the Dow was up as much as 108 points and down as much as 43 points from Friday's close.
Broader stock indicators were mixed. The Standard & Poor's 500 index managed a slight gain of 6.72 points to 1,254.13; the Nasdaq composite index fell 42.68 to 2,689.15. Decliners beat advancers by a 7-to-4 margin on the New York Stock Exchange, with 1,942 down, 1,095 up and 475 unchanged. On the Nasdaq, twice as many stocks fell as those that gained. NYSE volume totaled 802.7 million shares, down from 907.6 million Friday.
The NYSE composite rose 3.45 to 579.62; the American Stock Exchange composite slipped 2.51 to 774.49; and the Russell 2000 index fell 5.80 to 408.90.
The 30-year bond fell 17/32, or $5.31 per $1,000 in face value; its yield rose 4 basis points to 6.32 percent, a closing level that was reached Thursday for the first time in two years.
Analysts said that after driving the blue chips down last week, investors were ready to unleash their worries on the Nasdaq's technology stocks. "Most people today have Intel, Microsoft, Dell in their portfolios, and their losses are piling up," said Barry Hyman, senior equity analyst at Ehrenkrantz King Nussbaum in New York.