Dow Closes Off 4.95 on Mixed Day

The stock market finished mixed today, leveling off after its rally of late last week.

Analysts said investors showed no strong reaction either way to the latest news from the war in the Middle East.

The Dow Jones average of 30 industrials, which had climbed 56.19 points over the three previous sessions, slipped back 4.95 to 2,654.45.

Advancing issues outnumbered declines by about 3 to 2 on the New York Stock Exchange, with 936 up, 608 down and 444 unchanged.

Big Board volume totaled 141.27 million shares, down from 194.35 million in the previous session.

The NYSE’s composite index edged up .09 to 183.47.

On the home front, hopes have been stirring lately that the economy might be faring a bit better than had generally been believed.

Last week the government reported that economic output contracted less than analysts had been estimating in the fourth quarter of 1990.

Today, separate figures showed a stronger-than-expected increase of 0.7% in personal income for December.

Bond prices were mixed in light early today as dealers reviewed more news on the war front and the latest report on consumer spending. The Treasury’s bellwether 30-year bond rose 1/8 point, or $1.25 per $1,000 face amount, by midday. Its yield, which moves inversely to the price, eased to 8.21% from 8.22% late Friday.