NEW YORK >> Wall Street stalled in lackluster trading today as investors collected profits from the market's latest advance, but the Dow Jones industrials managed to close just above 10,000 for the first time in more than a month. Late buying sends Dow
above 10,000 -- againAssociated Press
The Dow's gain was tentative, with the index hovering just below 10,000 moments before the close.
Analysts said cautious investors were afraid they would risk losing newly earned profits should stocks follow their recent pattern of falling back.
The Dow closed up 12.32 at 10,001.99, adding to a 364-point gain over the previous four sessions. The Dow last finished above 10,000 on Jan. 10.
Broader stock indicators fell. The Standard & Poor's 500 index was down 2.03 at 1,116.48, and the Nasdaq composite index lost 15.79 to 1,843.37.
Decliners beat advancers on the New York Stock Exchange, with 1,629 down, 1,471 up and 235 unchanged. Volume was 1.25 billion shares.
The NYSE composite index lost 0.43 to 575.66, the American Stock Exchange composite index slipped 1.14 to 846.82 and the Russell 2000 index fell 5.57 to 470.76.
The Treasury's 2-year note was unchanged at 99 2932; its yield rose 1 basis point to 3.04 percent. The 10-year note gained 932 to 99 1432; its yield fell 4 basis points to 4.95 percent. The 30-year note rose 1832 to 99 1432; its yield fell 4 basis points to 5.41 percent.
"We can easily go above 10,000, even 10,100. But can we stay above that? That's another question and I have my doubts," said Richard A. Dickson, technical analyst at Hilliard Lyons.
Hewlett-Packard fell 10 cents to $20.88, despite reporting late yesterday that first-quarter profits more than tripled because of aggressive cuts in overhead and strong computer and printer sales to consumers.
Other tech stocks fared better, including Compaq, the company Hewlett-Packard hopes to merge with. Its stock gained 7 cents to $11.47.