Technology stocks gained nicely, while the

Dow Jones Industrial Average

was down slightly after closing at an all-time high on

Friday.

Mergers and acquisitions and a proposed settlement between

Federal Trade Commission

lawyers and

Intel

(INTC) - Get Report

highlighted news this morning.

Intel rose 3 15/16 to 118 1/2 on the news. In June, the FTC charged that Intel cut off customers and competitors in part in order to stifle competition.

The

Nasdaq Composite Index

was up 33 to 2370. The Dow was down 9 to 9727. The

S&P 500

was up half a point to 1276. The small-cap

Russell 2000

was up 1 to 399.

TheStreet.com Internet Sector

index was up 13 to 547.

TheStreet.com E-Commerce Index

was up a fraction to 96.

The 30-year Treasury bond was up 16/32 to 95 11/32, yielding 5.57%.

Jay Suskind, head of institutional equity trading at

Ryan Beck

, said the stock market is still looking to the bond market for direction.

He said market participants will be eyeing the bond market and economic data and how bonds react to those reports. He said if the bond market hangs in there and rates go a little lower, the Dow can get to 10,000.

But Suskind added that it's "not going to be an easy way there."

On the M&A front,

Allied Waste

(AW)

is acquiring

Browning-Ferris

(BFI)

for $9.1 billion, which includes the assumption of $1.8 billion in debt. Allied Waste rose 1, or 6.7%, to 16, while Browning-Ferris jumped 4 13/16, or 13.9%, to 39 9/16.

CIT Group

(CIT) - Get Report

is buying

Newcourt Credit

(NCT)

for $4 billion, a deal which CIT said will create the largest publicly-owned company in the commercial finance industry. CIT gained 1/16 to 30 13/16, while Newcourt rose 15/16 to 26 3/4.

Fortis

, an international insurance, banking and investment group, is buying

American Bankers Insurance Group

(ABI)

for $2.6 billion. American Bankers surged 5 9/16, or 12%, to 51 15/16.

On the

New York Stock Exchange

, decliners were beating advancers 1,337 to 1,206 on 207 million shares. On the

Nasdaq Stock Market

, winners were edging losers 1,586 to 1,540 on 289 million shares.

On the NYSE, 43 issues had set new 52-week highs while 16 had touched new lows. On the Nasdaq, 42 issues had set new highs while new lows totaled 34.

On the Big Board,

Compaq

(CPQ)

was most active, with 6.6 million shares changing hands. It was up 15/16 to 35 3/16.

On the Nasdaq,

Dell

(DELL) - Get Report

was most active, with 20 million shares changing hands. It was up 1 3/8 to 44 7/16.

9:55 a.m.: Nasdaq Cruises Higher Early as Dow Stalls

Stocks were mostly higher, with the exception of blue-chips, while

Federal Trade Commission

lawyers and

Intel

(INTC) - Get Report

have reached a proposed settlement agreement regarding the antitrust action the FTC took against the chip giant.

Intel was up 3 5/16 to 117 7/8. The commission now has to approve the settlement.

The

Dow Jones Industrial Average

was down 4 to 9732. The

S&P 500

was up 1 to 1277. The

Nasdaq Composite Index

was up 24 to 2361. The

Russell 2000

was up 1 to 399.

TheStreet.com Internet Sector

index was up 10 to 544.

TheStreet.com E-Commerce Index

was up 1 to 97.

The 30-year Treasury bond was up 16/32 to 95 11/32, yielding 5.57%.

Most Up at Open -- NYSE

McDermott International (MDR) - Get Report, up 1 3/4 to 24

.

Most Up at Open -- Nasdaq

Network Solutions (NSOL) , up 9 13/16 to 182

.

Most Down at Open -- NYSE

Merck (MRK) - Get Report, down 1 3/8 to 81 3/8

.

Most Down at Open -- Nasdaq

DoubleClick (DCLK) , down 3 3/8 to 116 3/8

.