See-Saw Day Ends With Dow Up 6
NEW YORK, Sept. 23ÛÓThe Dotv Jones industrial average rallied from a 50-point deficit to finish in record territory today, as some traders bet the Federal Reserve would not raise interest rates at its policy meeting Tuesday. But broad market indexes finished lower.</br></br>The Dow average finished up 6.28 points, at 5894.74, surpassing its record closing high of 5889.68 set last Monday. But the Standard & PoorÛªs and NYSE composites failed to break records set Friday.</br></br>0.26 to 365.51, from its record 365.77, while the S&P 500-stock index declined 0.55 to 686.48. 'Die Nasdaq composite index fell 8.22 to 1211.47, and the American Stock Exchange index dropped 1.58 to 563.62.</br></br>The Dow dropped as much as 53 points early in the day, pared its losses throughout the morning to around 30 points, then shot liigher around 2 p.m. on the tails of a strong rally in bond prices that reflected tradersÛª jockeying for position the day before the Fed meeting.</br></br>The price of the governmentÛªs main 30-year bond recovered from an early deficit to end 7/32 point higher or about $2.19 per $1,000 in face amount. Its yield, which moves in the opposite direction, ehsed to 7.02 percent from 7.04 percent late Friday.