STOCKS lost ground yesterday as worries about corporate earnings and profit-taking after recent strong gains once again kept the Dow Jones industrial average from closing above 6,000 points.
The Dow ended 13.04 points lower at 5,966.77 after an early rally stalled at 6,010.37.
In the broader market, declining issues led advances 1,361 to 1,014 on active volume of 434 million shares on the New York Stock Exchange.
The technology-studded Nasdaq Composite index lost 10.72 points at 1,240.15, one day after posting its first record close in four months.
By and large, investors are hesitating, waiting to see what third-quarter earnings have in store before committing further," said Mr Joseph Battipaglia, chief investment strategist at Gruntal & Co. "We've already had a 4 per cent move up on the broader market in the last three to four weeks," he said.
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