STOCKS were mixed yesterday, struggling against a weak bond market where interest rates rose after a strong reading on housing construction aggravated worries about rising inflation.
On Wall Street, the Dow Jones industrial average dropped 9.62 points to close at 5,867.74, after having recovered from a 30-point morning deficit. Most broad-market measures turned positive after a weak start.
The technology-heavy Nasdaq market rose for the tenth straight session as investor interest in rebounding computer-industry shares continued to mount.
Stocks followed bonds lower after the government reported that construction of new homes and apartments unexpectedly shot up 4.5 per cent in August to the highest level in nearly 2 1/2 years.
NYSE volume totalled 395.88 million shares. The Standard & Poor's 500-stock index up 1.53 to 683.00, and the NYSE's composite index rose 0.50 to 363.94.
