Updated from 4:11 p.m. EDTThe broader market held its ground Monday, rebounding from an early selloff amid a barrage of second-quarter earnings reports, but high oil prices and a disappointing outlook from 3M ( MMM) dragged the Dow lower. The Nasdaq Composite -- which had earlier dropped below its lowest closing level of 2004, hitting 1873 -- reversed field in the afternoon and closed up 0.68 points to 1883.83. The Dow lost 45.72 points, or 0.45%, to 10,094.06, while the S&P 500, now well below its 200-day moving average of 1104, was down 0.48 points to 1100.91. In other markets, the 10-year Treasury note was down 1/32 in price to yield 4.35%, while the dollar was higher against the euro and lower against the yen. In New York, oil for August delivery settled up 14 cents to $41.44. The late-session rally helped boost trading volumes again, with over 1.3 billion shares trading on the New York Stock Exchange, where advancers held a 5-to-4 majority. On the Nasdaq, over 1.7 shares changed hands, and decliners outnumbered advancers by about 3 to 2. Bill Livesey, market analyst with CyberTrader, said the Nasdaq was helped by a technical bounce off its 2004 lows, but he found little to be optimistic about. "I'm a little skeptical that this thing is going to have a lot of legs on the upside at this point in time," Livesey said. Dow component 3M, closed down $4.79, or 5.4%, to $83.05, despite reporting that second-quarter earnings rose 20% to $773 million, or 97 cents a share, beating estimates by a penny. The rub came as the consumer products giant said third-quarter earnings will be roughly the same as second-quarter earnings, an estimate that would fall about a penny short of expectations. Second-quarter sales rose 9.5% to $5 billion. After the bell, Flextronics ( symbol) said it turned a first-quarter profit after posting a loss a year ago. The electronics contract manufacturer earned $74.3 million, or 13 cents a share, up from last year's loss of $289.7 million. the company guided second-results in line with analysts' estimates. Its stock, which closed down 0.3%, was recently down $1.76, or 12.5%, to $12.30 after-hours. Corning ( GLW)also said after the bell that it swung to a profit and raised expectations for third-quarter results. The fiber-optic cable maker earned $108 million, or 7 cents a share, up from last year's loss of $22 million, or 2 cents a share. The stock, which closed down 3.8%, was recently trading up 73 cents, or 6.5%, to $12 in after-hours trading. In Iraq, militants killed a top official in Iraq's Defense Ministry Monday in a drive-by shooting as he walked into his house in Baghdad, according to the Associated Press. Separately, a fuel tanker detonated near a police station in southwest Baghdad early Monday, killing at least nine people and wounding about 57 others.