Mixed finish for stocks as Wall Street steadies; Dow dips 0.17 percent

NEW YORK - US stocks stabilized Monday with the major indexes ending mixed after a drubbing last week that sparked turmoil on global markets.
The Dow Jones Industrial Average fell 16.77 points (0.17 percent) to 10,070.74 while the Nasdaq managed to hold a gain of 4.67 points (0.24 percent) 1,912.82 at the closing bell
The Standard and Poor's 500 broad-market index climbed 3.26 points (0.29 percent) to a preliminary close at 1,145.88.
Global markets were in turmoil following heavy losses last week on Wall Street and tensions between China and Japan, but the market appeared to be stabilizing.
"The action today leads me to believe that some fast money is now buying the dips as opposed to selling into every pullback," said Elliot Spar, market strategist at Ryan Beck and Co.
"We are overdue for a relief rally but it is a long climb back."

04/18/2005 20:09 GMT