Investors struggled past concerns over a potential terror strike, sending stocks modestly higher Monday following an upbeat earnings report from Procter & Gamble Co. and a positive reading on manufacturing activity.
Financial stocks were under pressure following warnings from the government over the weekend that financial institutions including the New York Stock Exchange, Citigroup, Prudential Financial and the World Bank could be targeted by terrorists. But after spending much of the day in a slump, major market indicators ended modestly higher following a late round of buying, repeating a pattern now familiar from recent trading sessions.
The Dow Jones industrial average rose 39.45, or 0.4 percent, to 10,179.16. It was the Dow's fifth straight advance, its longest rally of the year and the first time since late November-early December that it put together five consecutive winning sessions.
The Standard & Poor's 500-stock index gained 4.90, or 0.4 percent, to 1106.62, and the Nasdaq composite index rose 4.73, or 0.3 percent, to 1892.09.
The strong earnings report from Procter & Gamble helped provide an underpinning for enthusiasm on the market. P&G climbed $1.19, to $53.34, after reporting that its earnings surged 44 percent in its fiscal fourth quarter.
Financial stocks were somewhat lower amid the threat of terrorism against financial institutions. Prudential, whose Newark building was cited as a possible target, fell 46 cents, to $46.10. But shares in Citigroup rose 23 cents, to $44.32, after being lower earlier.
Cox Communications, the nation's fourth-largest cable TV provider, soared $5.58, or 20 percent, to $33.16, after its Atlanta parent company Cox Enterprises announced a $7.9 billion proposal to buy all outstanding shares and take the company private.
Shares in other cable companies also rose. Industry leader Comcast rose $1.35, to $28.75, and Cablevision Systems climbed $1.87, to $19.34.
* The New York Stock Exchange composite index rose 23.25, to 6426.40; the American Stock Exchange index rose 8.71, to 1249.05; and the Russell 2000 index of smaller-company stocks rose 0.64, to 551.93.
* Advancing issues outnumbered declining ones by 3 to 2 on the NYSE, where trading volume fell to 1.27 billion shares, from 1.3 billion on Friday. On the Nasdaq Stock Market, decliners outnumbered advancers by 4 to 3 and volume totaled 1.53 billion, up from 1.5 billion.
* The price of the Treasury's 10-year note rose $1.56 per $1,000 invested, and its yield fell to 4.45 percent, from 4.48 percent on Friday.
* The dollar fell against the Japanese yen and the euro. In late New York trading, a dollar bought 110.80 yen, down from 111.22 late Friday, and a euro bought $1.2031, up from $1.2020.
* Light, sweet crude oil for September delivery settled at $43.82, up 2 cents, on the New York Mercantile Exchange.
* Gold for current delivery rose to $391.70 a troy ounce, from $391.00 on Friday, on the New York Mercantile Exchange's Commodity Exchange.