Late this afternoon the

Dow Jones Industrial Average

said goodbye to 10,000, and it remains short of the mark as the market heads into the final hour of trading on this triple-witching Friday.

The Dow was down 31 to 9967. At its morning zenith, the Dow was up 87.69 to 10,085.31.

"I'm a little disappointed we couldn't hold 10 here," said Scott Curtis, senior equity trader at

Brown Brothers Harriman

.

IBM

(IBM) - Get Report

was the biggest drag on the Dow on worries about its revenue picture.

CNBC

reported that

Morgan Stanley Dean Witter

lowered its price target on the stock to 195 from 210. Big Blue was down 6 15/16 to 170 3/4, and shaved 30.80 points off the Dow.

American Express

(AXP) - Get Report

and

Hewlett Packard

(HWP)

were also suffering weakness and not helping the Dow 10,000 cause.

The

S&P 500

was down 10 to 1306. The

Nasdaq Composite Index

was down 30 to 2433. The

Russell 2000

was down 3 to 397.

TheStreet.com Internet Sector

index was up 11 to 629.

TheStreet.com E-Commerce Index

was down 1 to 115.

Triple-witching refers to the expiration of stock options, index options and index futures.

With the lack of stimulus as far as interest rates go, April and earnings season is going to be key for the market, said Curtis.

Meanwhile,

iVillage

(IVIL)

was skyrocketing in its first day of trading, up 60 3/8, or 252%, to 84 3/8. iVillage is publisher of the women's Web site of the same name.

Also,

Cheap Tickets

(CTIX)

was up 16 3/16, or 108%, to 31 3/16. The stock recently began trading after its IPO was priced last night at $15.

The 30-year bond was down 24/32 to 95 24/32, yielding 5.54%.

On the

New York Stock Exchange

, decliners were beating advancers 1,737 to 1,196 on 735 million shares. On the Nasdaq, losers were beating winners 2,357 to 1,515 on 854 million shares.

On the NYSE, 77 issues had set new 52-week lows while 57 had touched new highs. On the Nasdaq, 92 stocks had set new lows while 72 touched new highs.

Most active on the Big Board was

America Online

(AOL)

, with 23.2 million shares changing hands. It was up 2 7/16 to 118 9/16.

Most active on the Nasdaq was

Cambridge Technology Partners

(CATP)

, with 29.1 million shares changing hands. It was down 9 3/4, or 46.6%, to 11 1/4. Yesterday it warned it expects to post first-quarter earnings of 12 cents to 14 cents a share due to slower sales. The

First Call

23-analyst forecast called for 24 cents vs. the year-ago 20 cents.

1:55 p.m.: Dow Continues to Hover Around 10,000 Mark

The

Dow Jones Industrial Average

continued to hover over 10,000 while

iVillage

(IVIL)

was skyrocketing in its trading debut.

iVillage was up 57 7/8, or 241%, to 82.

Goldman Sachs

priced the 3.65 million-share IPO top-range at $24 a share last night. iVillage is the publisher of a women's Web site of the same name. The stock peaked at 100 before fading.

Meanwhile, the Dow was up 28 to 10,026. At its zenith, the Dow was up 87.69 to 10,085.31.

The biggest gainers in the Dow were

United Technologies

(UTX) - Get Report

and

General Electric

(GE) - Get Report

, which rose 3 3/16 to 135 3/16 and 2 1/2 to 112 1/2, respectively. The price target on GE was raised to $130 from $110 by

Lehman Brothers

.

Meanwhile, the

S&P 500

was down 1 to 1316. The

Nasdaq Composite Index

was down 11 to 2452. The

Russell 2000

was down 1 to 399.

TheStreet.com Internet Sector

index was up 13 to 630.

TheStreet.com E-Commerce Index

was down 1 to 116.

The 30-year Treasury bond was down 17/32 to 95 31/32, yielding 5.53%.

On the

New York Stock Exchange

, decliners were beating advancers 1,572 to 1,309 on 610 million shares. On the

Nasdaq Stock Market

, losers were beating winners 2,154 to 1,576 on 686 million shares.

On the NYSE, 66 issues had set new 52-week lows while 54 had touched new highs. On the Nasdaq, 80 issues had set new lows while new highs totaled 66.

Most active on the Big Board was

America Online

(AOL)

, with 19 million shares changing hands. It was up 3 3/16 to 119 5/16.

Most active on the Nasdaq was

Cambridge Technology Partners

(CATP)

, with 26 million shares changing hands. It was down 9 1/8, or 44%, to 11 13/16. Yesterday it warned it expects to post first-quarter earnings of 12 cents to 14 cents a share due to slower sales. The

First Call

23-analyst forecast called for 24 cents vs. the year-ago 20 cents.

Sector Focus: Small and Midcaps

With all the hoopla surrounding Dow 10,000, seemingly lost in the shuffle is the fact that small and midcap stock proxies are actually down this year. As mentioned above, the Russell 2000 was lower today. Meanwhile, midcap stocks are faring worse. Today the

S&P 400 MidCap Index

was down 1%.

As of this afternoon, year-to-date, the Russell is down about 5.5%, while the S&P 400 Midcap is down roughly 6.9%.

1:01 p.m.: Midday Musings: Yes, No, Maybe So: Lethargy, Triple-Witch Cloud Dow 10,000 Watch

11:48 a.m.: Dow Barely Clings to 10,000 Level

The

Dow Jones Industrial Average

was barely clinging above 10,000 late this morning as the rest of the market's major indices were lower.

Meanwhile,

LVMH Moet Hennessy Louis Vuitton

(LVMHY)

has launched a full takeover bid for

Gucci

(GUC)

. Gucci's stock has not traded today on the

New York Stock Exchange

. LVMH, meanwhile, was flat at 51 1/4.

The Dow was up 14 to 10,011, well off its best level of the session. At its peak, the Dow was up 87.69 to 10,085.31.

The

S&P 500

was down 1 to 1315. The

Nasdaq Composite Index

was down 9 to 2454. The small-cap

Russell 2000

was down 2 to 398.

The 30-year Treasury bond was down 12/32 to 96 5/32, yielding 5.52%.

TheStreet.com Internet Sector

index was up 3 to 620.

TheStreet.com E-Commerce Index

was down 1 to 116.

Meanwhile, index options, equity options and index futures options expire today.

On the

New York Stock Exchange

, decliners were beating advancers 1,534 to 1,229 on 439 million shares. On the

Nasdaq Stock Market

, losers were beating winners 1,980 to 1,420 on 451 million shares.

On the NYSE, 48 issues had set new 52-week lows while 44 had touched new highs. On the Nasdaq, 66 issues had set new lows while new highs totaled 54.

On the Big Board,

America Online

(AOL)

was most active, with 15 million shares changing hands. It was up 2 15/16 to 119 1/16.

Tech Focus

The major tech gauges were weaker. The

Nasdaq 100

and the

Morgan Stanley High-Tech 35

were down 1%. The

Philadelphia Stock Exchange Computer Box Maker Index

was down 2%. The

Philadelphia Stock Exchange Semiconductor Index

was down 1%.

The biggest loser on the Nasdaq was

Cambridge Technology Partners

(CATP)

, which was down 9 1/16, or 43%, to 11 15/16. After the close yesterday, it warned it expects to post first-quarter earnings of 12 cents to 14 cents a share due to slower sales. The

First Call

23-analyst forecast called for 24 cents vs. the year-ago 20 cents. The stock was also most active on the Nasdaq, with 20 million shares changing hands. A host of analysts also downgraded the stock.

In the Newsletters

Intel

(INTC) - Get Report

is expected to hit harder on the sub-$1,000 personal computer market front Monday with the launch of a faster Celeron chip, according to a story on

Computer Reseller News'

Web site, citing industry sources.

The new 433MHz Celeron processor will follow January's debut of 400MHz and 366MHz Celerons. Systems with the new chip would be available beginning Sunday, the article said. The chip giant declined to comment, the article said.

Intel was up 1 3/16 to 123.

10:58 a.m.: Dow Above 10,000 but Well Off Its Session Highs

The

Dow Jones Industrial Average

continued to trade above 10,000, but was well off its session highs, as the market's major barometers turned mixed at midmorning.

Amid the Dow 10,000 hoopla, market breadth was negative on both the

New York Stock Exchange

and the

Nasdaq Stock Market

.

The Dow so far has been powered by

United Technologies

(UTX) - Get Report

, which was up 2 11/16 to 134 11/16.

The blue-chip average was up 20 to 10,018. At its peak, the Dow was up 87.69 to 10,085.31 before fading.

The Dow's surge as of late has been astounding. Since March 3, the Dow has risen approximately 742 points.

"The next couple of years look terrific too" for the Dow, said a bullish Steven Adler, president of

Vector Index Advisors

.

For the Dow, its price-to-earnings ratio is less than the

S&P 500

, noting that Dow components give a better price, better dividends and better earnings than the broad market, said Adler.

As for Dow 10,000, Adler said: "This landmark isn't anything special because we're in the first third of a golden era" started eight to 10 years ago, an era he said has "a lot left in it."

Meanwhile, the S&P 500 was down 1 to 1316.

The

Nasdaq Composite Index

was down 9 to 2453. The small-cap

Russell 2000

down 1 to 398.

TheStreet.com Internet Sector

index was up 1 to 619.

TheStreet.com E-Commerce Index

was down 1 to 116.

Today's triple witching -- the expiration of index options, equity options and index futures options -- is also a factor which is expected to influence prices today.

The 30-year Treasury bond was up 2/32 to 96 19/32, yielding 5.49%.

On the NYSE, decliners were beating advancers 1,427 to 1,189 on 342 million shares. On the Nasdaq, losers were beating winners 1,707 to 1,402 on 334 million shares.

On the NYSE, 41 issues had set new 52-week highs while 41 had touched new lows. On the Nasdaq, 50 issues had set new lows while new highs totaled 47.

On the Big Board,

America Online

(AOL)

was most active, with 12 million shares changing hands. It was up 1 3/4 to 117 15/16.

On the Nasdaq,

Cambridge Technology Partners

(CATP)

was most active, with 15 million shares changing hands. It was down 9 1/16, or 43%, to 11 15/16. Yesterday the company warned it expects to post first-quarter earnings of 12 cents to 14 cents a share due to slower sales. The

First Call

23-analyst forecast called for 24 cents vs. the year-ago 20 cents.

9:51 a.m.: Dow Breaks Through 10,000 Convincingly at Open

The

Dow Jones Industrial Average

opened above 10,000 and was firmly higher early on as it renews its quest to close above 10,000.

The Dow was up 52 to 10,050. The

S&P 500

was up 4 to 1321. The Dow and S&P 500 both closed at record highs yesterday.

The

Nasdaq Composite Index

was up 16 to 2479. The

Russell 2000

was down fractionally at 399.

TheStreet.com Internet Sector

index was up 15 to 633. The index is again in record territory after closing at a record high yesterday.

TheStreet.com E-Commerce Index

was up 3 to 119.

The 30-year Treasury bond was up 4/32 to 96 20/32, yielding 5.48%.

Most Up at Open -- NYSE

STMicroelectronics (STM) - Get Report, up 5 1/8 to 102 1/2

.

Most Up at Open -- Nasdaq

RealNetworks (RNWK) - Get Report, up 9 to 136

.

Most Down at Open -- NYSE

Providian (PVN) , down 1 11/16 to 111 7/8

.

Most Down at Open -- Nasdaq

Cambridge Technology Partners (CATP) , down 9 11/16 to 11 5/16

: The company yesterday warned it expects to post first-quarter earnings of 12 cents to 14 cents a share due to slower sales. The

First Call

23-analyst forecast called for 24 cents vs. the year-ago 20 cents.