THE stock market pulled out of a steep decline in New York yesterday to close mixed, but weak technology issues and uncertainty about the future of the US economy continued to weigh on the minds of investors.

The Dow Jones industrial average, which had been nearly 50 points down earlier in the day, turned around late in the day thanks to computer-triggered buying programs and a perception that such low levels offered an opportunity for bargains.

"It did come back quite quickly and for a while quite vigorously, but with today's close it really has not resolved some of the near term damage created by weakness in technology and last Friday's 115-point drop (in the Dow)," said Mr Eugene Peroni, director of technical research at Janney Montgomery Scott in Philadelphia.

"The market is trading within a range and is still somewhat uncertain about the interest rate outlook, and there's caution on the earnings front too."