Market in optimistic mood

WALL Street stocks were mostly higher today after struggling against a weak bond market in quiet trading before the Federal Reserve…

WALL Street stocks were mostly higher today after struggling against a weak bond market in quiet trading before the Federal Reserve meeting on interest rate strategy.

Broad market indexes were mostly higher, but the Nasdaq market slipped as technology shares continued to lag the broad market's rebound from July's rout. Stocks were pressured all session by rising interest rates in the bond market, where the yield on the 30 year Treasury a key determinant of corporate and consumer borrowing costs rose to 6.80 per cent, up from Friday's 6.76 per cent.

The NYSE's composite index rose 0.68 to 356.64, and the Standard and Poor's 500 stock index rose 1.37 to 666.58. The Nasdaq composite index fell 2.74 to 1,130.91, and the American Stock Exchange's market value index rose 1.46 to 557.60.