Dow Up 12.09; Market Mixed in Wary Trading

Stock prices creaked to a mixed finish today in a particularly slow session, reflecting widespread reluctance to participate ahead of the government’s potentially market-jolting monthly trade report.

The Dow Jones index of 30 industrials rose 12.09 points to 2,077.17.

Gaining and declining issues were virtually even on the New York Stock Exchange, with 710 up, 709 down and 524 unchanged.

Big Board volume totaled 115.17 million shares, against 142.90 million in the previous session. The NYSE’s composite index rose 0.29 to 115.17.

“The only thing I’ve noticed is nothing’s happened,” said Edward P. Nicoski, a technical analyst at Piper Jaffray & Hopwood Inc., a Minneapolis-based investment firm. “Everybody’s just waiting to see what those numbers are going to do.”

The Commerce Department is due to report the September merchandise trade balance Wednesday morning and most expectations are for a $10.5-billion shortfall. If the deficit exceeds that amount, some fear it could trigger a selloff in the dollar, stock and bond markets.

The trade statistics vary widely from month to month but remain one of the most sensitive market movers. That’s largely because the huge trade deficits the United States has been racking up over the past several years are seen by many economists as a reflection of eroding economic might.

Wall Street strategists said other figures released today that showed higher retail sales and industrial production in October caused little reaction in the stock market.

But bond prices fell in early trading today as the report of strong retail sales raised fears of accelerating inflation.

The Treasury’s 30-year bond fell 7/32 point, or $2.19 per $1,000 face amount, while its yield, which moves in the opposite direction from its price, rose to 9.02% from 9% late Monday.

The federal funds rate, the interest on overnight loans between banks, traded at 8 11/16%, up from 8 3/8%.