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Dow slips 8.48
Associated PressNEW YORK -- Stocks closed mixed today in listless trading as cautious investors took few chances ahead of the release tomorrow of key economic data used to gauge inflation. The Dow Jones industrial average closed down 8.48 at 10,804.27.
Broader stock indicators closed higher. The Standard & Poor's 500 index rose 0.51 at 1,510.49, and the Nasdaq composite index was up 28.49 at 4,274.67.
Decliners led advancers by a 5-to-4 margin, with 1,314 up, 1,517 down and 525 unchanged on the New York Stock Exchange, where volume came to 904.28 million shares, down from 951.33 on Friday.The NYSE composite slipped 0.60 to 663.20; the American Stock Exchange composite index rose 1.28 to 943.66; and the Russell 2000 index was up 2.55 at 545.18.
The 10-year Treasury note's price fell 15/32 point, or $4.69 per $1,000 face amount, as its yield rose 7 basis points to 6.16 percent. The two-year note fell 3/32 point, while its yield rose 5 basis points to 6.44 percent. The 30-year bond fell 18/32 point as its yield rose 4 basis points to 5.92 percent.
The markets lacked a clear direction while investors awaited the release tomorrow of the Consumer Price Index, which measures prices paid by consumers and is used as a barometer for inflation. Also, Federal Reserve Board Chairman Alan Greenspan will be testify before a Senate committee on Thursday, and investors will be looking for clues on the direction of interest rates.
The Nasdaq market rebounded from early losses, moving higher on optimism that last week's string of strong second-quarter earnings reports will extend into this week.