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NEW YORK - Stocks rallied today on optimism that interest rates will remain stable in the face of recent economic data that suggests the economy is slowing down. Dow up 99.26
Associated Press
The Dow Jones industrial average closed up 99.26 at 10,867.01.
Broader stock indicators were also higher. The Standard & Poor's 500 index was up 16.39 at 1,479.32, and the Nasdaq composite index was up 75.63 at 3,862.99.
Advancers outnumbered decliners by a 3 to 2 margin on the New York Stock Exchange, with 1,708 up, 1,136 down and 490 unchanged. Volume came to 854.31 million shares, well below Friday's 948.02 million.
The NYSE composite index rose 5.73 to 663.52, the American Stock Exchange composite index gained 7.49 to 915.46 and the Russell 2000 index was up 6.24 at 509.87.
The 30-year Treasury bond fell 23/32 to 107. Its yield rose 4 basis points to 5.75 percent. The 10-year note fell 11/32, or $3.44 per $1,000 face amount, to a price of 103 31/32. Its yield rose 5 basis points from a four-month low to 5.95 percent. The current two-year note fell 2/32 to 100 1/8, as its yield rose 4 basis points to 6.17 percent.
Demand for the stocks of big technology companies helped lift blue-chips. Software company EMC, up $4.69 to $90, and chip maker Texas Instruments, up $2.75 to $57.12-1/2, led the way.
The rally in technology stocks also gave a boost to the Nasdaq. Software companies led the way, as Ariba closed up $10.92 to $136, and BEA Systems rose $6.56 to $55.75. And fiber optics company JDS Uniphase gained $5.25 to $121.19.