Technology and drug stocks rose sharply on Wall Street yesterday, leading several market measures to new highs, but blue-chip shares pulled back as investors locked in some of last week's record-setting gains.
The Dow Jones industrial average fell about 25 points to 9,141 after falling to a 76-point loss earlier in the afternoon. The bluechip barometer gained 90 points on Friday, closing at a record 9,167.50.
Broad-market measures also rebounded late in the day, with the Standard and Poor's 500 edging into record territory just before the close.
The Nasdaq composite index jumped to a new high as bellwether technology shares rallied in advance of IBM's latest profit report, which was due after the close.
Declining issues outnumbered advancers by an 8-to-7 margin on the New York Stock Exchange, with 1,375 up, 1,582 down and 553 unchanged.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/VR3765MFOBH2NMV2QNICYDF67M.png)