Blue-Chip stocks pushed higher yesterday after a seesaw trading session in New York that saw the Dow Jones industrial average bounce back from an early 137point slide triggered by another rocky day overseas.
The Dow changed course three times during the day, rising 66.76 points - or 0.88 per cent - to 7,647.18 by the close despite falling to its lowest level in two months during the opening slide.
The broad market was mixed, with several indexes posting modest gains, but declining issues outnumbering advancers by a wide margin.
Stocks slid at the open, extending Friday's 222-point drop by the Dow, after investors woke up to a sharp sell-off in Southeast Asia for the fourth straight session.
Bellwether technology shares, which are considered especially vulnerable, were instrumental in the turnaround. Intel, which is due to report on its latest results today, rose sharply to lead the rebound on the Nasdaq, which briefly fell to its lowest level since the October sell-off.
