Blue Chips Sharply Higher
Stocks End Week With Mild Rally
But Earnings Worries Keep Tech Shares Down
The Associated Press
N E W Y O R K, Oct. 26 — Wall Street half-heartedly extended its rally today, sending blue chips sharply higher but selling high-tech issues as worries about earnings reappeared.
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At one point, the advance put the Dow Jones industrials within 30 points of the level they held before the terrorist attacks, but the index gave back some of its gains late in the session. The advance followed a late-session buying spree on Thursday, but investors' focus on blue chips showed they prefer to remain cautious amid political and economic uncertainty.
The Dow rose 82.27 to 9,545.17, adding to a 117-point advance on Thursday. The Dow is now about 60 points below 9,605.51, its close of Sept. 10, the day before the attacks.
Broader stock indicators were mixed. The Standard & Poor's 500 index rose 4.52 to 1,104.61 while the Nasdaq composite index fell 6.51 to 1,768.96. Both indexes have already surpassed their Sept. 10 closing levels.
Worst-Case Scenarios May Not Be Warranted
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