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NEW YORK -- The prospect of a resolution to the presidential election dispute sent the Dow industrials sharply higher today, but investors were more restrained about high-tech companies amid lingering earnings concerns. Dow gains 187
Associated Press
The Dow Jones industrial average soared 187.41, or 1.8 percent, to close at 10,560.95. Broader indicators were mixed. The Nasdaq composite index, which ended last week down 9 percent, fell 29.54, or 1.1 percent, to 2,615.75. The Standard & Poor's 500 index rose 9.74 to 1,324.97.
Advancers and decliners were nearly even on the NYSE, with 1,440 down, 1,421 up and 453 unchanged. NYSE volume was 1.08 billion shares vs. 1.18 billion Friday. The NYSE composite index rose 5.92 to 637.41; the American Stock Exchange index gained 3.70 to 857.08; and the Russell 2000 index fell 6.45 to 450.39.
The Treasury's 10-year note fell 4/32 point, or $1.25 per $1,000 in face value; its yield rose to 5.52 percent from 5.50 percent Friday. The 30-year bonds were down 14/32 point and yielded 5.66 percent, up from 5.63 percent Friday.
No. 1 on investors' minds today was the unresolved presidential election, analysts said.
"Getting the election settled is of primary importance to the markets," said Thom Brown, portfolio manager for Rutherford, Brown & Catherwood. "The market hates uncertainty. It doesn't really matter who wins. Just getting it over with would help."
Nasdaq gainers today included software maker Oracle, which rose $2 to $28.44, and fiber optic concern Ciena, which advanced $4.06 to $81.