There was a "material breach" Thursday, and not just in terms of Iraq's lack of compliance with its obligations, according to Secretary of State Colin Powell. The breach was in the stock market's ability to sustain an early rally, and presumably in traders' belief that good news from one tech firm can change the tone. Late Wednesday, there was much talk about how an upside surprise from Oracle ( ORCL) could ignite the much-awaited, still-elusive year-end rally. Oracle came through, delivering better-than-expected results and even some upbeat comments about its outlook. Oracle closed up 3%, but neither its news nor stronger-than-expected economic data could prevent major stock proxies from making appointed rounds with lower levels. The Dow Jones Industrial Average fell steadily after trading as high as 8505.26 early on, closing down 1% to 8354.80 vs. its intraday low of 8327.78. In similar fashion, the S&P 500 closed down 0.8% to 884.25 after having traded as high as 899.19 and as low as 880.32 at about 3:30 p.m. EST. The Nasdaq Composite slid 0.5% to 1354.10 vs. its earlier best of 1384.60 and nadir of 1346.20. At 1.36 billion shares, Big Board volume was up from recent levels but below its annual daily average for the 11th consecutive session. More than 1.4 billion shares traded over the counter, the first time that threshold has been exceeded since Dec. 6. As with Oracle, much of the news from big-cap names was tilted toward the positive. Dole Foods ( DOL) gained 14.5% after its CEO acquired the 76% of the company he didn't already own for a near 18% premium over the stock's close on Wednesday. Additionally, Goldman Sachs ( GS) and Lehman Brothers ( LEH) reported quarterly profits that exceeded consensus estimates and bested year-ago results. However, fellow brokerage Morgan Stanley ( LEH) saw its profitability fall 16% from year-ago levels. Shares of all three ended lower, and the Amex Broker/Dealer Index slid 1.4%.