Dow Back in Record Territory

However, the other major indices are in the red.
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After taking a bit of a swat after the opening bell, the blue-chip

Dow Jones Industrial Average

shook off some weakness and was solidly higher this morning and in record territory again.

Providing the most fuel for the Dow's jump were financials

American Express

(AXP) - Get Report

and

J.P. Morgan

(JPM) - Get Report

, which rose 3 11/16 to 136 3/4 and 4 to 139 13/16, respectively.

Meanwhile, technology and Internet stocks were mostly lower, but off their worst levels of the session.

The

Nasdaq Composite Index

was down 25 to 2526.

TheStreet.com Internet Sector

index was down 18 to 640.

Amazon.com

(AMZN) - Get Report

was the biggest loser in the index, down 20 , or 10%, to 173 13/16, after posting its quarterly results

yesterday after the close. Amazon was most active on the

Nasdaq Stock Market

, with 9 million shares changing hands.

The

S&P 500

was down 2 to 1349. The

Russell 2000

was down 1 to 433.

The 30-year Treasury bond was up 20/32 to 95 25/32, yielding 5.54%.

The

Labor Department

reported that the

Employment Cost Index

in the first-quarter rose a modest 0.4%, well below what economists predicted.

Peter Coolidge, managing director of trading at

Brean Murray Foster Securities

, says he expects another volatile session in Internet and technology stocks.

He noted that after an initial selloff, tech and Internet stocks have stabilized while the overall market has headed north.

On the

New York Stock Exchange

, advancers were beating decliners 1,499 to 1,063 on 255 million shares. On the Nasdaq, winners were beating losers 1,602 to 1,533 on 295 million shares.

On the NYSE, 43 issues had set new 52-week highs while 11 had touched new lows. On the Nasdaq, 38 issues had set new highs while new lows totaled 11.

On the Big Board,

America Online

(AOL)

was most active, with 11 million shares changing hands. It was down 4 7/16 to 138 9/16.

10:03 a.m.: Stocks Mixed as Treasury Market Rallies

The major market averages were mixed, as Treasuries rallied on bullish economic data.

The

Dow Jones Industrial Average

was up 49 to 10,894. The

S&P 500

was up 3 to 1354. The

Nasdaq Composite Index

was down 9 to 2542. The

Russell 2000

was down fractionally at 433.

TheStreet.com Internet Sector

index was down 9 to 649.

The 30-year Treasury bond was up 28/32 to 96 1/32, yielding 5.53%, after the

Labor Department

reported that the

Employment Cost Index

in the first-quarter rose a modest 0.4%, well below what economists predicted, showing inflation remains asleep.

Most Up at Open -- NYSE

Telebras (TBH) , up 2 1/4 to 90

.

Most Up at Open -- Nasdaq

VeriSign (VRSN) - Get Report, up 5 1/2 to 108 5/16

.

Most Down at Open -- NYSE

Chevron (CHV) , down 2 to 100 7/8

.

Most Down at Open -- Nasdaq

Amazon.com (AMZN) - Get Report, down 21 1/16 to 172 7/16

: The company after the close reported a first-quarter loss of 23 cents a share, 6 cents narrower than the 21-analyst

First Call

view but deeper than the year-ago loss of 7 cents. Analysts, however, are growing impatient with Amazon's plans to boost its spending aggressively, deepen losses and push profitability further into the future. TheStreet.com wrote about Amazon's report in a story

last night.