STOCKS moved lower yesterday as investors took a cautious stance during the central bank's deliberations on interest rate policy.

The Dow Jones industrial average lost about 10 points, recovering from a morning loss of nearly 35 on a late-session rebound. Broad-market measures slipped too, with the Nasdaq market showing the steepest loss after the latest in a series of negative earnings outlooks from computer-related businesses.

Advancing issues outnumbered decliners by a 10 to nine margin on the New York Stock Exchange, with 1,231 up, 1,1117 down and 839 unchanged.

NYSE volume totalled 387.46 million shares against 345.72 million in the previous session.

The NYSE's composite index fell 0.69 to 361.01, and the Standard and Poor's 500-stock index fell 2.28 to 673.60.

The Nasdaq composite index fell 5.76 to 1,191.69, and the American Stock Exchange's market value index fell 0.69 to 579.56.