Dow Rises in Late Climb
NEW YORK (AP) _ The stock market finished mixed Monday following a late climb among blue chip issues.
After rising 12.70 points in an abbreviated Christmas Eve session, the Dow Jones average of 30 industrial stocks rose 7.02 Monday to 3,333.26.
Declining issues narrowly outnumbered gainers by 6 to 5 on the New York Stock Exchange, with 992 up, 817 down and 587 unchanged.
Big Board volume totaled 143.97 million shares as of 4 p.m., against 95.17 million in the previous session.
The market recovered late in the day after low prices failed to prompt heavy selling, said William Dodge, chief investment strategist at Dean Witter Reynolds Inc.
When the market turned to buying, the blue-chips were the main beneficiaries, Dodge said. Disney rose 1 to 44, McDonald's rose 1 to finish at 50, Goodyear rose 1 to 69 and Allied Signal rose 1 to 61.
Trading was particularly quiet, mostly because of the holidays, but also because ice-slicked roads Monday morning frustrated many commuters trying to get to Wall Street.
The Dow was down as much as 28 points during the session.
Slightly higher government bond yields pulled money from the stock market early in the day, some investors took profits and there was some nervousness over the situation in Iraq, contributing to the drop, analysts said. …