The Dow Jones Industrial Average edged to another record high in New York today, but most stocks fell in cautious trading before the impending flood of quarterly profit reports.
The Dow finished 7.28 higher at 11,200.98. It was the third record high close in four sessions for the Dow, which has now gained more than 2,000 points, or 22 per cent, in 1999.
The Standard & Poor's 500 index, which also closed at a record high on Friday, fell 4.15 to 1,399.13. The Nasdaq composite index fell 2.39 to 2,790.68.
Declining issues outnumbered advancers by a 7-to-6 margin on the New York Stock Exchange, with 1,381 up, 1,624 down and 559 unchanged, but Nasdaq advancers finished with a slim lead.
With the flow of reports on the just-ended second quarter beginning in earnest tomorrow, traders were hesitant to make any big bets. Most stocks traded in a narrow range.
The Russell 2000 index rose 1.32 to 459.30.
