Blue chips cling to modest gains

Stocks ended mixed yesterday in New York as a rally fizzled in technology while blue chips clung to modest gains a day after …

Stocks ended mixed yesterday in New York as a rally fizzled in technology while blue chips clung to modest gains a day after a huge global sell-off.

At the closing bell, the Nasdaq was down 30.79 points (1.56 per cent) at 1,941.30 while the Dow Jones industrials rose 57.82 points (0.58 per cent) to 10,031.28.

The broader Standard and Poor's 500 rose 6.89 points (0.58 per cent) to 1,173.60.

The mixed result came as financial markets stabilised somewhat a day after world stock prices reeled amid a slew of profit warnings and poor economic data along with worries over a Japanese banking crisis.