Dow, S&P 500, Nasdaq Close at Record Highs After Late Jump

The 30-year Treasury bond fell again, but managed to climb off its worst levels of the session.
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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

, the

S&P 500

and the

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

General Electric

(GE) - Get Report

, which was up 4 to 117 15/16. GE is anticipated to report earnings Friday.

American Express

(AXP) - Get Report

and

Alcoa

(AA) - Get Report

were prominent losers among Dow components.

After the close today,

Yahoo!

(YHOO)

will report earnings. The

First Call

21-analyst estimate predicts Yahoo! will earn 8 cents a share. Yahoo! was down 7 15/16 to 167 1/16.

On the

New York Stock Exchange

,

Waste Management

(WMI)

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.

On the

Nasdaq Stock Market

,

New Era of Networks

(NEON) - Get Report

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

Earlier...

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

Russell 2000

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

Waste Management

(WMI)

and

New Era of Networks

(NEON) - Get Report

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.