Mixed market sends
blue chips up, tech down

---

By Adam Geller
Associated Press

NEW YORK >> Wall Street half-heartedly extended its rally today, sending blue chips sharply higher but selling high-tech issues as worries about earnings reappeared.

At one point, the advance put the Dow Jones industrials within 30 points of the level they held before the terrorist attacks, but the index gave back some of its gains late in the session. The advance followed a late-session buying spree yesterday, but investors' focus on blue chips showed they prefer to remain cautious amid political and economic uncertainty.

The Dow rose 82.27 to 9,545.17, adding to a 117-point advance yesterday. The Dow is now about 60 points below 9,605.51, its close of Sept. 10, the day before the attacks.

Broader stock indicators were mixed. The Standard & Poor's 500 index rose 4.52 to 1,104.61 while the Nasdaq composite index was up 6.51 at 1,768.96. Both indexes have already surpassed their Sept. 10 closing levels.

The Russell 2000 index, which measures the performance of smaller company stocks, was up 2.69 at 438.65. The NYSE composite index rose 3.62 to 566.58. The American Stock Exchange composite index rose 8.54 to 837.21.

Advancing issues outnumbered decliners by a nearly 3-to-2 margin on the New York Stock Exchange, with 1,842 rising, 1,278 falling and 198 unchanged. Volume came to 1.41 billion shares.

The price of the U.S. Treasury's 10-year note rose 7/32 to 103 24/32, while its yield fell 3 basis points to 4.519. The price of the 30-year note rose 14/32 to 101 19/32; its yield fell 3 basis points to 5.267.

Stocks have risen as some investors conclude that, despite the terrorist attacks, worst-case scenarios for the economy do not appear to be warranted.

"Good news appears to be gaining a stronger hand each day as we go along here," said Ronald Hill, investment strategist at Brown Brothers Harriman & Co.

With a weekend coming up and fears of terrorism continuing, it was clear many investors thought twice about making further commitments to the market. While there were more buyers than sellers, their numbers are still limited, Hill said.

But the fact that most of yesterday's big gains were holding was likely to pull some fence-sitters back into the market, said Richard E. Cripps, chief market strategist for Legg Mason of Baltimore.

"The advance we saw yesterday midday was really very impressive and we're holding it and even building on it a little bit, and if we can hold it to the end of the week, that once again shows resiliency," he said.

Ericcson was up 14 cents to $4.49, following an after-hours announcement yesterday that its chairman will not return. Baker Hughes was up $1.55 to $36.57 after earnings beat analysts' expectations.

Lockheed Martin was up $1.08 to $49.98, with some investors making a sound bet it would win the joint fighter contract awarded after the close.

But earnings reports dragged down other companies. Losers today included JDS Uniphase, down $1.20 to $8.76, after reporting a steep quarterly loss yesterday. Enron was down 84 cents to $15.51, after it said it had drawn down $3 billion from credit lines.

Overseas, Japan's Nikkei stock average ended today down 0.8 percent. Germany's DAX index was up 2.2 percent, France's CAC-40 rose 2.3 percent, and Britain's FT-SE 100 advanced 2 percent.