NEW YORK — The Dow Jones industrial average edged close to 11,000 Tuesday but failed for a second day to cross it.
The Dow ended down about four points, while broader indexes rose.
Interest rates fell after rising Monday.
For a second day, the Dow rose to within about 12 points of the 11,000 milestone before retreating. It hasn’t been above that mark in 18 months.
Shares of regional banks Regions Financial and SunTrust Banks rose after upbeat comments from analysts. Tech stocks were mixed after business-software company CA said earnings for the year will come in at the lower end of its forecast. CA also said it would cut 1,000 jobs, or about 8 percent of its workforce.
Massey Energy fell more than 11 percent after an underground explosion Monday afternoon blamed on methane gas killed 25 coal miners about 30 miles south of Charleston, W.Va. Four others were missing Tuesday. The explosion occurred about 1.5 miles from the entrance to Massey’s Upper Big Branch mine. It was the worst U.S. mining disaster since 1984.
The stock market rose to its best levels of the day in afternoon trading when the release of minutes from the Federal Reserve’s last meeting signaled that policymakers are more upbeat about the economy. Analysts said, however, that the minutes contained few surprises.
The Dow has risen for each of the past five weeks, its longest winning streak since mid- April last year.
“It’s no longer a question of ‘Is the recovery underway?’ It’s a question of the pace of the recovery,” said Paul Ballew, chief economist at Nationwide Insurance in Columbus, Ohio.
The Dow on Tuesday fell 3.56, or less than 0.1 percent, to 10,969.99. It was only the Dow’s sixth drop in 27 trading days.
The Standard & Poor’s 500 index rose 2.00, or 0.2 percent, to 1,189.44. The index is at an 18-month high.
The Nasdaq composite rose 7.28, or 0.3 percent, to 2,436.81. The index stands at its best level since August 2008.
Whether the recovery can continue depends on the labor market. On Friday, the government reported that the economy posted its biggest job gain in three years in March.
“You have to have the average consumer making more this year than last year in order for the economy to grow longer term,” said Jason Pride, director of investment strategy at Glenmede in Philadelphia.
