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NEW YORK -- Blue-chip stocks moved higher today but technology issues lagged behind in one of Wall Street's quietest sessions in recent weeks. Many investors stayed on the sidelines, resting after a week of hectic buying and selling. Dow gains 45
Associated Press
The market was uninspired by news of the merger between General Electric and Honeywell, both components of the 30-company Dow Jones industrial average.
The Dow closed up 45.13 at 10,271.72, down from its morning gain of 133 points. The Nasdaq composite index was off 14.45 at 3,468.69. The Standard & Poor's 500 index fell 1.15 to 1,395.78.
Decliners beat advancers by a more than 8-6 margin with 1,574 down, 1,278 up and 471 unchanged on the New York Stock Exchange, where volume was 1.02 billion shares vs. 1.3 billion on Friday. The NYSE composite index rose 0.12 to 642.29; the American Stock Exchange composite index gained 2.41 to 915.85; and the Russell 2000 index rose 2.51 to 489.96.
The Treasury 10-year note's price was up 11/32 point, or $3.44 per $1,000 in face value, while its yield fell to 5.58 percent from 5.63 percent late Friday. The 30-year bonds were up 22/32 point and yielded 5.68 percent, down from 5.72 percent late Friday.
Shares of 3M climbed $2.56 to $89.81 after the manufacturing company's quarterly earnings per share beat Wall Street estimates by a penny.
Optical networking company Corning also came in ahead of analysts' estimates by a penny, but investors punished its shares. They dropped $5 to $101.
Microsoft lost $3.06 to $62.13 as traders took profits after last week's positive earnings report.