BLUE-CHIP stocks eked out a small gain yesterday, extending their recovery from Friday's sell-off, but the session's strong upward momentum was tempered by a late retreat in technology shares.
The Dow Jones industrial average ended up 9.31 points at 6,473.25 after racking up a mid-afternoon gain of nearly 50 points. On Monday, it surged 82 points.
The technology-laden Nasdaq Composite index was off 3.72 to 1,312.55, one day after closing at a new high.
In the broader market, advancing issues led declines 1,378 to 1,123 on active volume of 446 million shares on the NYSE.
Analysts said investors grew more confident for the second straight day after Federal Reserve Chairman Mr Alan Greenspan's cautionary comments about "irrational exuberance" in financial markets sent stocks into a tailspin on Friday.
The NYSE Composite index of all listed common stocks fell 0.79 to 393.90.