Updated from: 4:04 p.m. ESTInvestors managed to preserve some of a rare 2005 rally Tuesday after a four-day slide, amid bargain hunting, encourgaing consumer confidence data and mostly positive fourth-quarter earnings reports. The Dow Jones Industrial Average was the only major index to hold on to most of its gains, closing up 92.95 points, or 0.9%, to 10,461.56, having recently slipped below its 2003 closing level. The S&P 500 rose 4.66 points, or 0.4%, to 1168.41. The Nasdaq, which was coming off an 11-week low Monday that put the tech index about 7.7% below its 2004 close, added 11.25 points, or 0.5%, to 2019.95, having been up twice that amount earlier in the session. Volume on the New York Stock Exchange was 1.61 billion shares, with advancers narrowly beating decliners by a ratio of 17-to-16. Volume on the Nasdaq was 1.99 billion shares, with advancers beating decliners 8-to-7. "Coming into the day, we had an oversold position," said Larry Perruzi, an equity trader with Boston Company Asset Management. "We saw a three-week trend of the market closing on its lows. We had J&J and Merrill Lynch earnings come in very good this morning, setting a tone to get us off to a right start. Once the unexpected consumer confidence number came in, it helped the market rise even higher. " Other market-watchers echoed concerns about follow-through after the market's worst January performance since 1982. "There's a lot of bargain-hunting on the news of good earnings," said Peter Cardillo, chief market analyst with S.W. Bach & Co. "We really had good earnings across the board today. We're seeing a technical relief rally, and the question is, can we have some follow-throughs? If we can, maybe the worst of the decline is over." In other markets, the 10-year Treasury note was down 16/32 in price to yield 4.19%, while the dollar was higher against the yen but lower against the euro. Oil futures closed at their highest level since Nov 29, up 83 cents at $49.64 in Nymex floor trading. In economic news, the Conference Board said that the consumer confidence reading for January was 103.4, higher than analysts' expectations of 101.3 as well as the 102.3 reading in December. The National Association of Realtors said that existing-home sales for December were off 3.3% to 6.69 million, lower than November's 6.94 million.