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Dow gains 169
Associated PressNEW YORK -- Blue-chip stocks rose sharply today on the latest round of strong profit reports. Technology stocks ended modestly lower as investors took some profits from big gains of Monday and Tuesday and struggled to chart a course in the volatile sector.
The Dow Jones industrial average rose 169.09 to close at 10,844.05. The Dow ended the four-day week with a gain of 538.28 points, or 5.2 percent. The Nasdaq composite index fell 62.53 to close at 3,643.88. Even with losses yesterday and today, the Nasdaq rose 322.51 points, or 9.7 percent, for the week after plummeting a record 25.3 percent last week. The Standard & Poor's 500 rose 7.07 to close today at 1,434.54.
Advancers led decliners by a 4-to-3 margin on the New York Stock Exchange, with 1,653 up, 1,223 down and 516 unchanged. NYSE volume totaled 894.78 million shares vs. 1 billion yesterday.
The NYSE composite index gained 6.14 to 639.41. The American Stock Exchange composite index rose 11.41 to 897.64 and the Russell 2000 index of smaller companies fell 4.39 to 481.84.
The 30-year Treasury bond prose rose point, or $2.50 per $1,000 face amount; its yield fell 2 basis points to 5.83 percent.
Financial markets will be closed tomorrow for Good Friday. Bond markets closed early today.
Financial stocks paced the Dow, with American Express and J.P. Morgan contributing most to the gains. The primary focus, however, was on earnings reports. Companies are nearing the peak of the reporting season, with about half the firms in the S&P 500 having released reports, and most have reported strong profit growth.