Blue-Chip shares rose sharply in New York yesterday after shaking off an early slide, but most stocks finished lower amid continuing worries about last week's rash of profit warnings.
On Wall Street, the Dow Jones industrial average rose 90.88 points to 9,028.24 after wiping out an early 81-point drop that put the measure almost 500 points below July 17th's record of 9,337.97. The Dow lost slightly more than 400 points last week, a slide that was barely interrupted by Friday's four-point gain.
Monday's blue-chip recovery also wiped out a 43-point plunge by the Nasdaq composite index and a 12-point loss by the Standard and Poor's 500, but declining issues outnumbered advancers by a wide margin on the broad market.
Declining issues outnumbered advancers by a 2-to-1 margin with 945 up and 2,076 down.
NYSE volume totalled 618.33 million shares, against 682.65 million in the previous session.
The Russell 2000 index of smaller companies fell 5.42 to 433.16.
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