Stocks ended mixed yesterday, as blue chips posted moderate gains but technology shares skidded after a new set of profit warnings from companies in the sector.
The Dow Jones industrial average rose 22.75 points to 7,312.15 after hitting a session low of 7,254 and then jumping by more than 50 points.
In the broader market, advancing issues outpaced declines by 1,473 to 1,022 on volume of almost 527 million shares on the New York Stock Exchange.
Blue chips were aided by a decline in interest rates, which fuelled a strong advance by financial stocks.
The 30-year Treasury bond rose 12/32, or $3.75 on a $1,000 bond, reducing its yield to 6.87 per cent from 6.90 per cent at Monday's close.
But the story for technology stocks was far different. The Nasdaq Composite index fell 19.88 points to 1,384.91, hit by steep losses among computer networking stocks.
