WALL Street stocks gave back most of their gains yesterday as bonds worsened, sending interest rates to new one year highs despite a tame US inflation reading.
The Dow Jones industrial average fell just 0.37 to close at, 5,668.29, down from an afternoon, again of more than 36 points.
The market was unmoved by news that US consumer prices climbed 0.3 per cent in May. The report was in line with analyst expectations and did little to alleviate worries over interest rates. Declines outnumbered advances by a slim margin on the New York Stock Exchange, with 1,122 up, 1,204 down and 829 unchanged.
NYSE volume totalled 390.88 million shares, against 401.05 million in the previous session.
The NYSE's composite index fell 0.87 to 358.68, and the Standard and Poor's 500 stock index fell 1.93 to 669.04.
The Nasdaq composite index rose 4.29 to 1,235.05, and the American Stock Exchange's market value index fell 0.02 to 597.55.
