STOCKS The New York inched higher today in lifeless trading as a late blue chip rally with bonds quickly evaporated. Technology and more speculative issues continued to struggle, weighing down the Nasdaq and American stock markets.

The Dow Jones snapped a five session losing streak that had amounted to less than 50 points. Major market indexes fell.

On the bond market, interest rate on 30 year Treasury bills dropped to 7.06 per cent from 7.09 per cent on Friday.

Stocks now have failed to rally on improving interest rates for several sessions.

Investors have been frustrated by a series of conflicting signals on inflation, with most fearing recent indications of rising payroll and wage levels, which could translate into too much consumer demand, pushing up prices.

The Nasdaq composite index fell 4.98 to 1,208.20, and the American Stock Exchange's market value index fell 3.32 to 590.53.