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NEW YORK -- Earnings worries reappeared on Wall Street today, cutting short a rally triggered by hopes that the presidential election would soon be resolved. Dow gains 76
Associated Press
Blue chips advanced on financial and pharmaceutical issues, but their gains softened considerably late in the day. Technology stocks rose and then fell back into negative territory after analysts reduced expectations for communications chip makers Broadcom, Xilinx and Altera.
For a second straight session, the Dow Jones industrial average closed higher, up 75.84 at 10,546.07. The blue-chip index had risen more than 156 points earlier in the day.
Broader stock indicators were mixed. The Nasdaq composite index fell 23.89 to 2,880.49, after spiking up as much as 94 points in morning trading. The Standard & Poor's 500 index rose 7.20 at 1,348.97. Advancers beat decliners by a 16-to-13 ratio on the New York Stock Exchange, with 1,552 up, 1,289 down and 466 unchanged. NYSE volume came to 924.64 million shares, compared with a total of 408.87 million shares on Friday, when trading ended early because of the Thanksgiving holiday weekend.
The NYSE composite index rose 4.84 to close today at 636.93; the American Stock Exchange composite index gained 1.67 to 878.52; and the Russell 2000 index rose 0.17 to 471.70.
The 10-year Treasury note's yield was unchanged from Friday at 5.62 percent.
The 30-year bond dropped 15/32 point, or $4.69 per $1,000 in face value, pushing its yield up 3 basis points to 5.70 percent.