Around the World's Markets: New York

STOCKS WERE lower in late-morning trading as Wall Street pocketed profits from a strong rally that was fuelled by an upturn in the technology sector. The Dow Jones industrial average was down 77 points, or 0.72 per cent, at 10,641, while the technology-heavy Nasdaq index fell 36 points to 3,107.

Wal-Mart's third-quarter results beat expectations, but shares in the world's largest retailer fell asit took a cautious stance on holiday season sales.