NEW YORK (CNNfn) - A bout of profit taking killed Wall Street's promising rally Wednesday, leaving the Dow in the red and the Nasdaq with just enough of a gain to register a new record high.
Earnings news, especially from technology leaders like Microsoft, dominated the trading session, which also was spiced up by upbeat talk on the U.S. economy and a warning for the stock market from Alan Greenspan.
According to preliminary data, the Dow Jones industrial average lost 19.31 points to 9,335.91. Gainers trailed losers 1,458 to 1,569 as 907 million shares traded on the New York Stock Exchange.
The Nasdaq Composite lost most of its spectacular gains for the day in the last hour of trading. Still, the technology weighted index kept of gain of 7.40 points, allowing it to close at 2,415.57, yet a new record high. The S&P 500 index finished 4.61 higher at 1,256.61.
Bonds fell, hurt by the mostly strong performances of stock markets around the world as well as hints from Federal Reserve Chairman Alan Greenspan that an interest rate cut is unlikely in the near future. The benchmark 30-year Treasury bond lost 10.32 of a point in price for a yield of 5.16 percent.
The dollar finished nearly unchanged against the euro, but fell against the Japanese yen. 
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