Stocks fall 72

NEW YORK Stocks were mixed today after bouncing around again,with the Dow Jones industrial average erasing an early 87-point slideonly to turn lower again in the afternoon.

The Dow Jones industrial average fell 72.01 points to close at7,622.42.

The Nasdaq composite index posted modest gains thanks to somestrength among big-name technology shares.Stocks dropped this morning in tandem with the bond market,where interest rates rose after the Commerce Department reported thatconsumer spending shot up 0.8 percent in July.Separately, the Commerce Department said new home sales rose 0.9percent in July, the third straight monthly advance.Bonds fell for the first time in four days after the reports."This economy is growing faster than people want to think itis," said William Dawson, who oversees $50 billion in fixed-income atFederated Investors in Pittsburgh. "It increases the likelihood theFed will move again this year."The benchmark 30-year Treasury bond fell $4.69 per $1,000 inface value, pushing its yield up to 6.61 percent from 6.57 percent.Although the Federal Reserve decided earlier this month not toprotect against inflation by slowing the economy, investors havegrown fearful the central bank will take action by the end of theyear.Declining issues outnumbered advancers on the New York StockExchange, with 1,472 down, 1,314 up and 550 unchanged, on volume of408.3 million shares.The dollar rose against major currencies in late Europeantrading.The dollar was quoted at 1.8125 German marks, up from 1.8026late Thursday, and 120.90 yen, up from 118.65.The British pound was quoted at $1.6175, up from $1.6118 lateThursday.Gold in London closed at $324.50 per ounce, down from $326.10Thursday.Silver traded in London at $4.69 a troy ounce, down from $4.81Thursday.