The Dow Jones industrial average struggled higher yesterday in nervous trading before Federal Reserve chairman Mr Alan Greenspan's speech to Congress today. The Dow gained about 16 points to 7,906

after wiping out an early 50-point loss. The blue-chip barometer hit

8,000 for the first time last Wednesday, but then lost 150 points over the next two sessions.

Broad-market indicators slumped for the third consecutive session, led by the technologyheavy Nasdaq composite index, which had set record highs for 10 consecutive sessions.

Few observers expected any decisive market activity until after

Greenspan delivers his report to the House of Representatives and the

Senate over the next two days.

Stocks and bonds tumbled after his last report in December, when he warned that higher interest rates may be needed to temper the inflationary impact of the market's "irrational exuberance."

Declines outnumbered advances by more than a 2-to-1 margin. - (AP)