Blue-chip stocks registered a minuscule gain on Wall Street yesterday and broader indicators retreated. A surge in interest rates following a disappointing Treasury bond auction deflated a bid to extend Wednesday's broad stock market rally.
Declining issues barely outnumbered advancers on the New York Stock Exchange, with 1,537 down, 1,510 up and 510 unchanged. NYSE volume totalled 742.40 million shares, against 782.79 million in the previous session.
The NYSE composite index rose 0.73 to 610.95, and the American Stock Exchange composite index rose 3.28 to 780.65.
The Russell 2000 index of smaller companies rose 0.63 to 428.82.
Stocks were higher across the board for much of today's trading session as bargain-hunters sought out shares that have been pounded down from the record heights reached in mid-July.
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