Blue-Chip stocks struggled again in the US yesterday in the aftermath of last week's recordsetting advance, but a strong showing by technology issues and smaller-company shares helped boost the broad market and lift some measures to new highs.
On Wall Street, the Dow Jones industrial average dropped 10.91 points to 8,187.54, after erasing an early 36-point drop and briefly bobbing into positive territory.
Broader stock indicators finished higher, led by the technology-rich Nasdaq composite index, which closed at a record high for the fifth consecutive session. And in contrast to the blue-chip sector, the Russell 2000 index of smaller companies also rose to a new record.
The Dow has struggled in recent sessions after setting a series of record highs over the past two weeks. Most of the pressure on the blue-chip sector has been coming from the bond market, where interest rates rose for the third straight session after setting a 17month low last Thursday.