Leading market indexes posted slim gains in New York yesterday, but most stocks fell in another hesitant session before today's congressional report by Federal Reserve chairman, Mr Alan Greenspan.

The Dow Jones industrial average fell 19.68 points to 9,049.92 The loss halted a three-session, 265-point climb back toward May 13th's record of 9,211.84.

Broader stock indexes rose, led by the technology-heavy Nasdaq composite, but declining issues outnumbered advancers overall.

Trading was very cautious, with investors wary of what Mr Greenspan might say today. Analysts will be looking for clues as to whether Federal Reserve officials might raise the key lending rates to keep inflation in check by slowing the economy.

Merck helped bolster the Dow for a second straight day, but American Express was the Dow's biggest decliner after gaining 4.5 points on Monday. Declining issues outnumbered advancers by a 9-to-7 margin.