Volatile day for blue chips

BLUE-CHIP stocks ended a shade lower after a roller-coaster session, as an unexpectedly weak August durable goods report left…

BLUE-CHIP stocks ended a shade lower after a roller-coaster session, as an unexpectedly weak August durable goods report left traders scrambling to sell economically-sensitive issues.

The broader market fared a bit better, led by selected technology stocks and issues less tied to swings in the economy.

"The durables point to an economic slowdown and fortify the Fed's decision (on Tuesday) not to raise short-term rates, said Mr Peter Cardillo, of Westfalia Investments.

After early selling and a spate of late morning buying, the Dow Jones industrial average settled down 8.51 points at 5,868.85. In the broader market, advancing issues led declines 1,388 to 999 on active volume of 499.8 million shares on the New York Stock Exchange.

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The technology-laden Nasdaq Composite index rose 3.32 points to 1,227.98, but that was well off its 1,237.26 intra-day high.