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NEW YORK -- Blue chips fell sharply today on profit-taking and concerns about the drop in the euro currency, but technology stocks moved higher for a second straight session on upbeat speculation about corporate earnings. Dow falls 94.71
Associated Press
The Dow Jones industrial average fell 94.71 at 11,087.47. The Nasdaq composite index rose 19.97 at 3,913.86 but the Standard & Poor's 500 index fell 4.04 to 1,480.87. Advancers outnumbered decliners on the New York Stock Exchange, with 1,443 up, 1,356 down and 539 unchanged. Volume was 1.01 billion shares compared with 1.07 billion yesterday.
The NYSE composite index fell 0.80 to 674.42, the American Stock Exchange composite index rose 2.94 to 966.49 and the Russell 2000 index rose 5.21 to 539.21. The 30-year Treasury bond fell 1 1/4 to 106 3/32, with its yield rising 9 basis points to 5.82 percent.
Early in the day, Wall Street got a lift from the Labor Department's report that wholesale prices fell an unexpected 0.2 percent last month, the first drop in four months. The decline followed a flat reading in the Producer Price Index in July. The report was further evidence that the economy is slowing .
Tech stocks moved higher, including Conexant Systems, which rose $15.56 to $52.63. The firm said late yesterday it was spinning its Internet infrastructure business off into a separate company. After the close, Oracle, the world's No. 2 software maker, said fiscal first-quarter earnings more than doubled, driven by better-than-expected sales of its flagship database-management programs. The company also said it will split its stock 2-for-1.