Major market averages ended mostly higher as the market was focused largely on earnings.
Thanks to a late-day spurt of buying (as opposed to yesterday's late-day selloff), the
Dow Jones Industrial Average
Nasdaq Composite Index
all closed at record highs.
The 30-year Treasury bond, however, fell again, but managed to climb off its worst levels of the session.
Despite the gain in most of the market's major barometers, breadth was negative.
The Dow was powered by
, which was up 4 to 117 15/16. GE is anticipated to report earnings Friday.
were prominent losers among Dow components.
After the close today,
will report earnings. The
21-analyst estimate predicts Yahoo! will earn 8 cents a share. Yahoo! was down 7 15/16 to 167 1/16.
New York Stock Exchange
was most active, with 70.3 million shares changing hands. Waste Management was down 19 5/8, or 36.6%, to 33 15/16, after issuing an earnings warning yesterday after the close.
Nasdaq Stock Market
New Era of Networks
was most active, with 29 million shares changing hands. It was down 21 9/16, or 52.3%, to 19 7/16. The company issued an earnings warning yesterday after the close.
On the NYSE, decliners beat advancers 1,686 to 1,275 on 780.6 million shares. On the Nasdaq, losers beat winners 2,125 to 1,849 on 1.03 billion shares.
On the NYSE, 87 issues set new 52-week highs while 53 touched new lows. On the Nasdaq, 133 issues set new 52 week highs while new lows totaled 26.
Market data above are preliminary. Updated numbers and analysis will follow in the Market Roundup
3:01 p.m.: Earnings Concerns Keep Stocks Mostly Lower
Major stock proxies were mostly lower going into the final hour of trading -- with the small-cap
leading on the downside -- as earnings news dominated the market's attention.
2:03 p.m.: Stocks Mostly Lower as Bonds Remain in the Red
As the market focuses on earnings, major market gauges were mostly softer this afternoon, while bonds tumbled.
1:07 p.m.: Midday Musings: What a Waste: Earnings Warnings Drive Stocks Into the Red
11:49 a.m.: Stocks Narrowly Mixed as Internet Sector Takes a Hit
Major market averages were narrowly mixed late this morning while Internet issues slumped.
11:04 a.m.: Stocks Mixed Amid Another Tumble in Bonds
Stocks were mixed at midmorning while
New Era of Networks
were getting hammered after both companies issued earnings warnings after the close.
9:53 a.m.: Stocks Quickly Erase Opening Gains
Major market averages reversed course after opening slightly higher and have all now dipped into the red.