Stocks posted meagre gains yesterday in lifeless holiday trading as the first full week of third-quarter profit reports began on an upbeat note. The Dow Jones rose 27.01 points after a slow and steady retreat from an opening 70point spurt. Broader stock measures were mostly higher, with the Russell 2000 index of smaller companies closing at a record high for the third straight session.

As expected, trading was very light with the bond market closed for Columbus Day and no major economic data released.

On Friday, secondary stocks inched to record highs, but the broad market retreated amid news of an increase in wholesale prices that heightened fears the Federal Reserve will raise interest rates to slow the economy and contain inflation.

The Nasdaq composite index rose 3.08 at 1742.11 after retreating from an early foray into record territory.