Most major market barometers ended a lackluster session slightly lower, as the 30-year Treasury bond managed to gain modestly, bringing to an end its five-session losing streak.

Intraday, the

Dow Jones Industrial Average

peaked at the 10,650.40 level; the

S&P 500

traded as high as 1329.07; and the

Nasdaq Composite Index

peaked at the 2587.15 level.

Meanwhile,

Juniper Networks

(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

soared in its trading debut. It was up 190.8% to 98 7/8. Its 4.8 million-share IPO was priced at $34 a share by

Goldman Sachs

. Juniper is high-speed Internet router provider.

Volume was abysmal.

On the

New York Stock Exchange

, advancers beat decliners 1,500 to 1,424 on 613.3 million shares. On the

Nasdaq Stock Market

, winners beat losers 1,968 to 1,742 on 764.3 million shares.

On the NYSE, 131 issues set new 52-week lows while 38 touched new highs. On the Nasdaq, 87 issues set new highs while new lows totaled 44.

On the Big Board,

America Online

(AOL)

was most active with 17.5 million shares changing hands. It was down 3 13/16 to 102 15/16.

On the Nasdaq,

Dell

(DELL) - Get Dell Technologies Inc Class C Report

was most active with 15.2 million shares changing hands. It was down 1 1/4 to 36 15/16.

Market data above are preliminary. Updated numbers and analysis will follow in the Market Roundup

3:00 p.m.: Stocks Remain Mixed After Significant Early Climb

Major stock proxies were mixed heading into the final hour of trading, having bid farewell to their session highs a while ago.

Intraday, the

Dow Jones Industrial Average

traded as high as 10,650.40 shortly before noon EDT; the

S&P 500

peaked at 1329.07 at about 10:20 a.m.; and the

Nasdaq Composite Index

traded as high as 2587.15 at about 10:30 a.m.

TheStreet.com Internet Sector

index peaked at the 586.44 level, or up 1.8%, intraday.

Volume was light.

Stocks came off their highs with bonds, which were well off their best levels of the session. Strength in Treasuries helped stocks advance handsomely this morning.

Harry Laubscher, market analyst at

Tucker Anthony

, said he's expecting the market to show an upward bias over the next seven to eight days because of the market's monthly strength cycle and because both the bond and stock markets have become oversold.

On the

New York Stock Exchange

, advancers were beating decliners 1,505 to 1,408 on 473 million shares. On the

Nasdaq Stock Market

, winners were beating losers 1,862 to 1,773 on 603 million shares.

On the NYSE, 119 issues had set new 52-week lows while 32 had touched new highs. On the Nasdaq, 76 issues had set new highs while new lows totaled 38.

On the Big Board,

America Online

(AOL)

was most active, with 14 million shares changing hands. It was down 4 5/16 to 102 7/16.

On the Nasdaq,

Cisco

(CSCO) - Get Cisco Systems, Inc. Report

was most active, with 11 million shares changing hands. It was up 7/16 to 60 3/4.

1:58 p.m.: Stocks Turn Mixed as Bonds Hover Near Unchanged

After rising solidly earlier in the session, major market gauges have turned mixed this afternoon, while one market newcomer has blasted off in its trading debut.

Juniper Networks

(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

was skyrocketing in its trading debut. It was up 186% to 97 3/8. Its 4.8 million-share IPO was priced at $34 a share by

Goldman Sachs

. Juniper is a high-speed Internet router provider.

The market's early strength came in part thanks to firmness in Treasuries. The 30-year Treasury bond, however, has lost a lot of its earlier steam and was only slightly higher this afternoon.

Intraday, the

Dow Jones Industrial Average

has traded as high as 10,650.40; the

S&P 500

has traded as high as 1329.07; and the Nasdaq Comp has traded as high as 2587.15.

Internet stocks were suffering a beating. Among the components of

TheStreet.com Internet Sector

index,

Inktomi

(INKT)

was the biggest loser in the index, down 7 1/8 to 106 5/8. Other prominent Net stocks on the downside in the index:

America Online

(AOL)

,

CMGI

(CMGI)

,

MindSpring

(MSPG)

and

Yahoo!

(YHOO)

.

The DOT has traded as high as 586.44, or 1.8%, intraday.

On the

New York Stock Exchange

, advancers were beating decliners 1,498 to 1,329 on 403 million shares. On the

Nasdaq Stock Market

, winners were beating losers 1,822 to 1,690 on 511 million shares.

On the NYSE, 112 issues had set new 52-week lows while 30 had touched new highs. On the Nasdaq, 72 issues had set new highs while new lows totaled 33.

On the Big Board, AOL was most active, with 11 million shares changing hands.

On the Nasdaq,

Parexel International

(PRXL)

was most active, with 10 million shares changing hands. Parexel and

Covance

(CVD)

announced they've called off their planned merger. Covance was soaring, up 3 7/16, or 16%, to 25, while Parexel was getting pounded, off 4 7/16, or 26%, to 12 1/2.

1:14 p.m.: Midday Musings: Stocks Remain on the Plus Side but Shed Some Strength

11:54 a.m.: Stocks Up Solidly After Recent Declines

Stocks continued to repair some of the damage they've suffered this week as the lunch hour approached on Wall Street.

Some market participants said stocks were due for a rebound after selling off sharply this week. A firm bond market was also lending support to stocks.

Juniper Networks

(JNPR) - Get Juniper Networks, Inc. (JNPR) Report

was skyrocketing in its trading debut. It was up 68 3/4 to 102 3/4. Its IPO was priced at $34 a share.

Meanwhile,

TheStreet Recommends

Persistence Software

(PRSW)

was making a solid trading debut, up 32% to 14 5/8. Its 3 million-share IPO was priced by

BancBoston Robertson Stephens

at $11.

On the

New York Stock Exchange

, advancers were beating decliners 1,598 to 1,041 on 253 million shares. On the

Nasdaq Stock Market

, winners were beating losers 1,892 to 1,354 on 309 million shares.

On the NYSE, 78 issues had set new 52-week lows while 27 had touched new highs. On the Nasdaq, 57 issues had set new highs while new lows totaled 20.

On the Big Board,

Boston Scientific

(BSX) - Get Boston Scientific Corporation Report

was most active, with 5 million shares changing hands. It was up 1 3/16 to 41 1/16.

On the Nasdaq,

Parexel International

(PRXL)

was most active, with 8 million shares changing hands. Parexel and

Covance

(CVD)

announced they've called off their planned merger, which was originally valued at about $800 million. Covance was soaring, up 4 1/16, or 19%, to 25 5/8, while Parexel was getting pounded, off 4 3/16, or 25%, to 12 3/4.

Tech Focus

Technology stocks were strong overall heading into the lunch hour.

The

Nasdaq 100

and the

Morgan Stanley High-Tech 35

were both up 1%. The

Philadelphia Stock Exchange Computer Box Maker Index

was also up 1%.

AirTouch Communications

(ATI) - Get Allegheny Technologies Incorporated Report

and

Vodafone

(VOD) - Get Vodafone Group Plc Sponsored ADR Report

said they planned to complete their $62 billion merger Wednesday. Both stocks were up solidly. Vodafone was up 6 15/16 to 208 1/16, while AirTouch was up 4 9/16 to 112 1/2.

MCI WorldCom

(WCOM)

, the long-distance giant, said it has sold its 25% stake in New Zealand's

Clear Communications

to

British Telecommunications

(BTY)

for an undisclosed amount. MCI was up 7/16 to 93, while British Telecom was down 3 5/16 to 176 1/4.

Lucent

(LU)

was up 3/4 to 64 3/4. Lucent is acquiring

Nexabit Networks

, a privately held start-up developer of high-performance Internet protocol wide area network switching/routing equipment, for about 14 million shares of Lucent stock, making the deal worth nearly $900 million. Lucent said the acquisition, which will be accounted for as a pooling of interests, is expected to be neutral to earnings in fiscal 1999 and 2000.

10:55 a.m.: Stocks Solidly Higher Amid Rise in Treasuries

Stocks and bonds were bandaging the wounds they've suffered this week, as all of the major market averages were solidly in the green at midmorning.

American Express

(AXP) - Get American Express Company Report

,

IBM

(IBM) - Get International Business Machines (IBM) Report

and

J.P. Morgan

(JPM) - Get JPMorgan Chase & Co. (JPM) Report

were powering the

Dow Jones Industrial Average

.

Bonds and stocks have slumped this week on fears of the possibility of more than one interest rate hike by the

Fed

to chill down the economy.

Dan Marciano, head of trading at

First Albany

, said today's advance "looks like short covering" and a "knee-jerk reaction" to the market's selloff this week.

He said he thinks it is going to take three Fed rate hikes to cool the economy. He said that after the first rate hike, people are going to realize that there are two more coming and then "they'll be able to make investment decisions" rather than continuing to sit on the sidelines.

In the news,

Covance

(CVD)

and

Parexel International

(PRXL)

announced they've called off their planned merger, which was originally valued at about $800 million. On the news, Covance was soaring, up 4 1/16, or 18%, to 25 5/8, while Parexel was getting slugged, off 3 13/16, or 23%, to 13 1/8. Parexel was most active on the Nasdaq, with 7 million shares changing hands.

On the

New York Stock Exchange

, advancers were beating decliners 1,515 to 940 on 174 million shares. On the

Nasdaq Stock Market

, winners were beating losers 1,729 to 1,164 on 209 million shares.

On the NYSE, 61 issues had set new 52-week lows while 24 had touched new highs. On the Nasdaq, 46 issues had set new highs while new lows totaled 17.

On the Big Board,

Boston Scientific

(BSX) - Get Boston Scientific Corporation Report

was most active, with 4 million shares changing hands. It was up 1 5/16 to 41 3/16.

9:54 a.m.: Techs, Financials Lead Stocks Higher

Stocks rose in the early going, led in part by technology and financials, while the 30-year Treasury bond firmed.

The

Nasdaq 100

was up 1%, while the

Philadelphia Stock Exchange Semiconductor Index

was also up 1%.

The

Philadelphia Stock Exchange/KBW Bank Index

was up 1%, while the

American Stock Exchange Broker/Dealer Index

was also up 1%.

Most Up at Open -- NYSE

Merrill Lynch (MER) , up 1 13/16 to 74 1/4

.

Most Up at Open -- Nasdaq

priceline.com (PCLN) , up 3 7/16 to 105 7/16

.

Most Down at Open -- NYSE

Aetna (AET) , down 1 3/8 to 89 5/8

.

Most Down at Open -- Nasdaq

Parexel International (PRXL) , down 6 3/16 to 10 3/4

: The company and

Covance

(CVD)

cancelled their merger agreement.