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Dow off 122.68;
Associated Press
Nasdaq tops 4,000NEW YORK - The Nasdaq composite index closed above the 4,000 mark today, the first time it has breached that level in more than two months, as investors bought shares of the companies that are expected to post the strongest earnings growth. But blue-chip indicators fell.
The Nasdaq's return to the 4,000 mark was the latest milestone in a gradual recovery from the steep selloff in April that knocked it as much as 37 percent below its record high. The technology-focused Nasdaq rose 23.53 to close at 4,013.36. Trading was fairly volatile, with the index wavering between positive and negative territory for much of the session. The Nasdaq remains 20.5 percent below the closing high of 5,048.62 set March 10.
The Dow Jones industrial average fell 122.68 at 10,435.16 and the Standard & Poor's 500 index was off 10.04 at 1,475.95.
Decliners led advancers by a 3-to-2 margin with 1,613 down, 1,264 up and 502 even on the New York Stock Exchange, where volume came to 1.01 billion shares, vs. yesterday's 920.23 million. The NYSE composite index fell 5.09 to 649.26; the American Stock Exchange composite index rose 6.57 to 940.84; and the Russell 2000 index rose 2.90 from yesterday's revised close to 525.69.
The yield on the 10-year Treasury note rose 2 basis points to 6.02 percent; its price fell 5/32 point, or $1.56 per $1,000 security.
The two-year note yield rose 3 basis points to 6.41 percent. The 30-year bond fell 5/32 point as its yield rose 1 basis point to 5.90 percent.