A late rally lifted smaller-company stocks further into record territory, but blue-chip shares fell modestly yesterday after some discouraging earnings news and a stumble in the recent bond rally.

The Dow Jones industrial average made another fleeting move above 8,000 in early trading, but quickly turned lower and fell 26.77 points to 7,970.06 on the day.

Broader measures were mixed, with the Russell 2000 index of smaller companies and the Nasdaq composite index shooting into positive territory during the final hour of trading.

The late rally salvaged record-setting streaks for both measures, giving the Russell 2000 its eighth straight closing high and the Nasdaq its fourth straight. The record close was also the 17th in 19 sessions for the Russell 2000.

Declining issues outnumbered advancers by a six-to-five margin on the New York Stock Exchange, with 1,306 up, 1,558 down and 555 unchanged.