-Caveat Lector- http://cnnfn.com/1999/10/18/markets/marketwrap/ NEW YORK (CNNfn) - Volatility and a series conflicting factors sent U.S. stock markets in opposite directions Monday. While a series of strong earnings reports from the Dow's financial components helped the blue chip index rally, less promising bottom-line reports and Wall Street's growing inflation fears plunged the Nasdaq into a dive. Investors remained on edge after Friday's market sell-off, nervously awaiting Tuesday's release of data on inflation at the consumer level for more hints on the direction of interest rates. Friday's unexpectedly steep jump in wholesale inflation jolted the market and triggered a drop that led to the biggest one-week point loss in history for the Dow industrials. The Dow Jones industrial average rose 96.57 points Monday to 10,116.28, after dipping below the psychologically important 10,000 level several times during the day. On the New York Stock Exchange, declines beat advances 1,954 to 1,095 as 801 million shares changed hands. The Nasdaq composite index, however, finished 42.68 points, or 1.6 percent, lower at 2,689.15, even though it too managed to claw its way up from the day's lows. The S&P 500 index gained 6.72 to 1,254.13. The bond market fell following the Dow's recovery and amid caution ahead of the Consumer Price Index report Tuesday. The benchmark 30-year Treasury bond fell 22/32 of a point in price for a yield of 6.32 percent, up from Friday's 6.26 percent. The dollar fell slightly against the yen and rose slightly against the euro. Despite Wall Street's recent bearish showing, however, many non-professional investors remain optimistic about the market. According to a CNNfn.com poll of online readers, some 52 percent of more than 6,000 respondents believe the bull market is still alive and 50 percent plan no changes in their current portfolios. This bullish response also found support from one of Wall Street's most respected professional market watchers. Goldman Sachs' Abby Joseph Cohen, known for her bullish stance and her accurate market predictions, said in a paper sent to clients Monday that investors' fears are unfounded and the fundamentals supporting the stock market remain intact. Cashing in on bank earnings In the stock market, earnings news dominated trading as investors took a one-day break from focusing on the latest economic data. Banking stocks helped push the Dow industrials higher after two of the blue-chip index's financial components reported stronger-than-expected third-quarter earnings. Shares of Citigroup (C) advanced 1-9/16 to 43-11/16 after the banking, insurance and investing conglomerate reported a profit of 70 cents per diluted share, 2 cents above expectations. J.P. Morgan 's (JPM) stock rallied 7-5/16 to 113 after the investment banker said it earned $2.22 a share in the third quarter, well above expectations of $2.15 a share. Outside of the Dow industrials, shares of Bank of America (BAC) rose 1-3/8 to 49-9/16 after the North Carolina-based bank reported a third-quarter profit of $1.23 a share, two pennies more than consensus forecasts. But the picture was far less bright in the technology sector. Shares of office equipment maker Xerox (XRX) were punished severely after the company's third-quarter results fell 11 percent below a year earlier. The stock tumbled 3-5/8, or more than 13 percent, to 23-13/16. Xerox also warned that price pressures and other problems will continue to dampen results into 2000. And printer maker Lexmark (LXK) saw its stock plunge 28, or more than 30 percent, to 65 after the company issued a warning that its fourth-quarter results would come in at the bottom of analysts' range of estimates. Lexmark also reported third-quarter results that slightly exceeded expectations. Rival printer makers also lost ground in sympathy. Hewlett Packard (HWP), a Dow component, tumbled 4-1/2 to 78-1/4. Hardly any technology stocks were spared by the sellers. Also on the Dow, IBM (IBM) lost 7/8 to 107. Nasdaq's leading high-tech members also shed some feathers, with Microsoft (MSFT) losing 3/16 to 87-7/8, Intel (INTC) dropping 1-1/2 to 69-3/8 and Dell (DELL) falling 1-1/2 to 41-5/16. DECLARATION & DISCLAIMER ========== CTRL is a discussion and informational exchange list. Proselyzting propagandic screeds are not allowed. Substance—not soapboxing! These are sordid matters and 'conspiracy theory', with its many half-truths, misdirections and outright frauds is used politically by different groups with major and minor effects spread throughout the spectrum of time and thought. 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