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NEW YORK -- Stock investors, although tired of selling and eager for a rally, struggled in vain to find a direction today and sent stocks wavering throughout a choppy session. Dow gains 31.85
Associated Press
Uneasiness about falling profits, the country's economic slowdown and more analyst downgrades of high-profile stocks made it impossible for any substantial gains to stick. By the end of the day, investors took to their recent approach of bidding blue chips moderately higher and selling technology issues.
The Dow Jones industrial average at times soared above 100 points, but it retreated to close up only 31.85 at 10,494.50. The Nasdaq composite index ended off 4.19 at 2,871.45 after bobbing in and out of positive territory. The Standard & Poor's 500 index rose 4.73 to 1,347.35.
Decliners led advancers by a 15-to-14 margin on the New York Stock Exchange, with 1,465 down, 1,382 up and 485 unchanged. NYSE volume was 1.12 billion shares, well ahead of yesterday's 952.70 million. The NYSE composite gained 0.89 to 635.23; the American Stock Exchange composite index gained 5.82 to 880.32; and the Russell 2000 index, which tracks smaller companies, was down 3.45 at 466.79.
Treasury prices rose with the 10-year note climbing 5/32, or $1.56 per $1,000 face amount; its yield fell 1 basis point to 5.65 percent. The 30-year bond rose 11/32 point, as its yield fell 2 basis points to 5.73 percent.
Two weeks after Election Day, investors were still waiting for Wall Street's typical post-election rally and they seemed to want to bid stocks higher, analysts said.