NEW YORK (CNNMoney.com) - The Dow clung to gains Thursday, but the broader market gave up an early advance, with the technology and energy sectors leading the declines.

The Dow Jones industrial average (up 24.73 to 10,883.35, Charts) added around 0.2 percent. Earlier it had risen to within 50 points of 11,000, a key psychological level it last crossed during the Jan. 12 session in the rally of early 2006.

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The broader Standard & Poor's 500 index (down 1.87 to 1,263.78, Charts) lost a few points and the Nasdaq composite (down 11.11 to 2,255.87, Charts) lost 0.5 percent.

Both major gauges had been higher in the morning and early afternoon as investors welcomed strong earnings and a successful 30-year bond auction, the first auction of the longer-dated Treasuries in five years.

But the market lost steam in the last two hours of trade, with investors cashing out of technology and energy stocks in particular.

Recent earnings have been pretty encouraging to investors, and oil prices have fallen more than $5 this week, both positives for the market, said Michael Sheldon, chief market strategist at Spencer Clarke.

However, uncertainty remains about the strength of the economy through the rest of the year, as well as how much longer the Federal Reserve will continue its interest-rate hiking campaign.

Last week, the central bank boosted a key short-term interest rate to 4.5 percent, the 14th hike in a row since June 2004.

Seasonal factors are also at play, with February typically a choppy month, Sheldon said. There are also technical factors affecting markets right now.

Nasdaq and S&P futures pointed to a flat open Friday, when fair value is taken into account.

However, that could change following the early morning release of the December trade balance report.

Among stock movers, Oracle is likely to be active Friday. After the close Thursday, the software maker issued guidance for fiscal third quarter and fourth quarter revenue growth in a range that is above analysts' estimates.

The company also announced that it was cutting 2,000 jobs, as it completes the purchase of fellow software maker Siebel Systems. Wire reports earlier in the day had said that the company would announce it was cutting 1,000 jobs later in the afternoon.

Oracle (Research) shares were little changed in extended-hours trading.

Oil stocks slipped, with investors continuing to cash out after the sector's big run in January. The Philadelphia Oil Service (Charts) sector index lost 2.9 percent.

All 15 of its components declined, led by National Oilwell Varco (down $3.29 to $64.84, Research), Baker Hughes (down $2.27 to $69.85, Research) and GlobalSantaFe (down $2.12 to $55.96, Research).

The decline in oil stocks weighed on the market as the day wore on, as did a turnaround in the technology sector, which had risen through the early afternoon.

Although Intel (up $0.33 to $21.00, Research) remained positive, the broader chip sector lost steam, weakening after a strong morning.

Internet shares were also a drag on the Nasdaq, with the Goldman Sachs Internet (Charts) index losing 1.1 percent.

Stocks had risen across the board in the morning as investors took in strong earnings from a number of companies.

Those companies remained positive.

Aetna (up $3.15 to $99.27, Research) shares gained after the health insurer posted higher fourth-quarter earnings that beat estimates and boosted its 2006 profit forecast.

Marriott International (up $1.53 to $67.64, Research) also gained after posting higher fourth-quarter earnings that topped estimates. The hotel chain also raised its current quarter earnings-per-share forecast.

Best Buy (up $4.13 to $52.96, Research) shares jumped 8.5 percent after the electronics retailer said that fourth-quarter and fiscal year 2006 earnings will top forecasts, due to strong sales.

Among other movers, Blackberry maker Research in Motion (up $0.97 to $69.62, Research) gained after it released details of a plan to run its wireless devices network in case it loses a patent dispute, which would mean a shutdown of service in the United States.

Dow component AIG (up $0.74 to $67.12, Research) said it will pay $1.6 billion to settle federal and state charges of fraud, bid rigging and improper accounting. The insurer's shares rose 1.1 percent.

Market breadth was mixed. On the New York Stock Exchange, winners edged losers by a narrow margin on volume of 1.77 billion shares. On the Nasdaq, decliners beat advancers by a narrow margin on volume of 2.36 billion shares.

Treasury prices were mixed. The 30-year bond jumped following a strong response to the auction, lowering the corresponding yield.

However, the 10-year note was little changed on the session, with the yield holding at 4.54 percent, little changed from late Wednesday. Treasury prices and yields move in opposite directions.

In economic news, wholesale inventories rose 1 percent in December, versus forecasts for a rise of 0.4 percent.

A separate report showed that weekly jobless claims rose a smaller-than-expected 4,000 last week to 277,000 -- further evidence of a recovering labor market.

U.S. light crude oil for March delivery gained 7 cents to settle at $62.62 a barrel on the New York Mercantile Exchange after having hit $63.70 earlier in the session.

In currency trading, the dollar fell versus the euro and gained against the yen.

COMEX gold for April delivery jumped $14.90 to settle at $565 after tumbling over $20 in the last two sessions.

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