Stocks Maintain Recent Gains, Giving Investors Renewed Hope
Most stocks held up better than many investors anticipated when this week began, even though technology shares succumbed to more profit-taking.</br></br>Following 10 days of almost unprecedented gains earlier this month, there were widespread expectations that stocks would fall more heavily than they have.</br></br>The Nasdaq Composite Index did fall 1.21%, or 24.92 points, to 2034.88 yesterday.</br></br>But on both the Nasdaq Stock Market and the New York Stock Exchange, more stocks rose than fell. Led by old-style industrial stocks such as Alcoa and DuPont, the Dow Jones Industrial Average moved up 0.63%, or 67.15 points, to 10692.35. The broad Standard & Poor's 500-stock index advanced 0.47%.</br></br>Although the Nasdaq composite still is down more than 17% so far this year -- and 60% off its record high, set last year -- the industrials are down less than 1% since the year began, just 8.8% off their all-time high, also reached last year.