Stock enthusiasm fades
after Oracle’s early spark

---

By Lisa Singhania
Associated Press

NEW YORK >> Concerns about weak company profits ruled Wall Street again today, foiling the market's attempts to rally on bullish comments from tech bellwether Oracle.

Blue chips fell while technology stocks were more mixed, but the overall market ended the session flat.

Analysts weren't surprised, noting the rest of the nation's business picture remains murky.

"For every Oracle, there are still companies out there that are indicating difficulties with near-term earnings," said Richard E. Cripps, chief market strategist for Legg Mason of Baltimore.

The Dow Jones industrial average closed down 48.71 at 10,596.67 despite an earlier gain of 94 points.

Broader stock indicators also struggled.

The Nasdaq composite index rose 4.03 to 1,992.66, halting a seven-session losing streak, but still closing below 2,000 for a second straight day. Prior to yesterday, the last time that the Nasdaq had finished that low was mid-April.

The Standard & Poor's 500 index rose 4.15 to 1,212.58.

The NYSE composite index rose 0.94 to 620.79, the American Stock Exchange composite index fell 4.62 to 910.08 and the Russell 2000 index lost 1.80 to 488.73.

Decliners edged advancers on the New York Stock Exchange, with 1,547 down, 1,495 up and 253 unchanged. Volume was 1.17 billion vs. 1.10 billion yesterday.

The Treasury's 10-year note rose 3/32 to 98 7/32; its yield fell 1 basis point to 5.23 percent.

The 30-year bond rose 6/32 to 95 18/32; its yield fell 1 basis point to 5.69 percent.

Today's declines followed an early session rally on Oracle's news that its U.S. outlook might be improving.

Analysts said those gains didn't last because they reflected the automatic snapback that usually occurs after strong selling, rather than any shift in market sentiment.

Oracle rose $1.92 to $16.76, a 13 percent increase, on slightly better-than-expected fiscal fourth-quarter results.