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The main indexes remained higher at midday amid uneven trading.

Just past 1 p.m. ET, the NYSE composite was up 0.5%, while the Dow, S&P 500 and Nasdaq were up 0.3%.

Volume was tracking lower across the board.

Some energy-related industry groups rose as the price of crude oil reached yet another record high.

Crude futures topped $93 a barrel on a weak dollar and a shut down that affects one-fifth of Mexico’s oil production.

Internet and food industries also were strong. Mortgage and real-estate stocks were among the day’s weakest.

U.S.-traded Chinese stocks rallied, including many market leaders. Ctrip.com (), the travel Web portal, rose 3.06 to 56.55 on active trading. The stock climbed into a new high, passing a 54.81 buy point from a pullback to its 10-week moving average.

It was a similar story for China Medical Technologies (), which jumped 2.66 to 47.22. The stock is making record highs, having cleared a high from February 2006 last week.

LSB Industries () rose 1.30 to 25.60, clearing a flat base with a 25.35 buy point. The engineering and manufacturing company reports third-quarter results Monday. LSB makes climate-control devices such as water source heat pumps and custom air handlers. It also makes chemical products for mining, agricultural and industrial users.

On the downside, Radiant Systems () fell 0.84 to 14.15. The stock plunged Friday and bounced back above its 200-day moving average. Today, the stock was between its 50- and 200-day lines.

11 a.m. ET update: Stocks Off Highs On Low Volume

BY ALAN R. ELLIOTT

Stocks traded higher Monday, but are well off the session’s best levels.

As of 11:10 a.m. ET, the Nasdaq and S&P 500 rose 0.2%. The Dow climbed 0.3% and the NYSE composite gained 0.4%. The small-cap S&P 600 fell 0.3%.

Volume was tracking lower on both exchanges as investors await Wednesday’s Fed decision.

Sterlite Industries India () jumped 1.12, or 5%, to 25.09. The mining firm continues to rebound from a pullback to its 10-week line. The stock’s Accumulation/Distribution Rating has improved to A from D last month.

MEMC Electronic Materials () climbed 2.16 to 73.24, extending Friday’s post-earnings 20% gain. Friedman Billings reiterated its outperform rating on the stock. The chip equipment maker is 10% past a 66.55 buy point of a double-bottom with handle.

A couple of leaders pulled back from their recent runs.

Intuitive Surgical () dropped 9.79 to 319.30. The maker of robotic surgical systems is well extended from a rebound off its 10-week moving average.

Deckers Outdoors () reversed early gains and fell 2.44 to 141.76. On Friday, the footwear maker vaulted 27% after it delivered Q3 earnings above views and gave a strong outlook.

But Crocs () gained 5% to a new high. The maker of those trendy, colorful footwear has continued to shine.

Yahoo () fell 5% after surging 7% Fri. ahead of Alibaba.com’s Hong Kong IPO pricing for the business-to-business e-commerce site.

10:15 a.m. ET Update: Indexes Jump In Early Trading

By Vincent Mao

Stocks opened sharply higher Monday, as rate-cut hopes trumped rising oil prices. But the major averages have pared their gains in the last few minutes.

At 10:08 a.m. ET, the Nasdaq rose 0.4%, about half what it was at its early peak. The S&P 500 and Dow gained 0.3%.

Advancers outpaced decliners by more than 2-to-1 on the NYSE and nearly 2-to-1 on the Nasdaq.

Crude oil futures rose 54 cents to $92.36 a barrel after hitting $93.20 earlier. Disruption in Mexican production, a weak dollar, and global tensions are fueling the rise.

3SBio () gapped up, gaining 3.08, or 19%, to 19.10. The Chinese biotech is rebounding after falling hard for the past two weeks. 3S is featured in Monday’s The New America.

FMC () gapped above a 54.28 buy point of a four-weeks-tight pattern. Shares rallied 2.24 to a new peak of 56.05. The chemical maker received a favorable mention in a Barron’s article. FMC also reports earnings on Thursday. The company is expected to earn 67 cents a share, up 31% from a year ago.

On the downside, Nvidia () dropped 1.12 to 33.26, sinking further below its 50-day moving average. Lehman Bros. cut the graphics chipmaker to equal weight from overweight. Nvidia reports on Nov. 8. Analysts see profit rising 38% to 36 cents a share.

Silicom () gapped down and lost 1.86, or 10%, to 17.24 in heavy trading. Before the open, the networking gear maker reported Q3 profit of 25 cents a share, up 108% from a year ago. But that was a penny shy of views. Sales also came in below estimates.

9:15 a.m. ET Update: Higher Open On Tap For Stocks

By Vincent Mao

Stock futures pointed to a strong start Monday, as traders continue Friday’s rally with a Fed cut expected later this week. Nasdaq futures gained 12 points vs. fair value, S&P 500 futures rose 6 points and Dow futures 42 points.

Crude oil briefly jumped above $93 a barrel on news that Petroleos Mexicanos was halting the production of 600,000 barrels or a fifth of its production. The December contract was up $0.98 to $92.84 a barrel.

The dollar edged higher against the yen, but weakened to a new low against the euro.

The Fed meets again on Tuesday and Wednesday. Most analysts expect a cut of 25 basis points.

We also have a slew of data out this week including: GDP (Wed.), ISM manufacturing (Thur.) and jobs data Fri, along with a number of other reports.

Humana () jumped 6% in the premarket. The HMO reported third-quarter earnings and sales ahead of analyst’s estimates. Income from its government segment more than doubled. Humana also guided full-year profit and sales ahead of views.

Merrill Lynch () edged lower in pre-open trading on news that its CEO Stan O’Neal has reportedly resigned, due to pressures from its board of directors. Last week, the investment banker reported a much wider-than-expected loss as it took $7.9 billion in write-downs for subprime loans. Talk that O’Neal would leave pushed Merrill’s shares up 8.5% on Friday.

Alon Energy USA () tumbled 7% in the preopen. The independent petroleum refiner guided Q3 earnings between 23 cents and 29 cents a share, or well below views of 61 cents. Alon said that record oil prices pressured its margins.

Schnitzer Steel () fell 10% after it reported a bigger-than-expected drop in its fiscal fourth-quarter earnings. But sales came in above views.

Potash Corp. of Saskatchewan () rose 4% in pre-open trading. Banc of America Securities upgraded the fertilizer maker to buy from neutral. And BMO Nesbitt Burns raised the stock’s price target to $135 from $115.

U.S. crude oil futures ended more than $4 higher and near the record high on Wednesday after the U.S. Federal Reserve announced a widely expected quarter-percentage-point cut in interest rates.

Earlier, crude rallied to above $94 after U.S. government inventory data at midmorning showed domestic crude supplies slumped last week, defying analysts’ forecast for an increase.

The biggest portion of the drawdown came from Cushing, Oklahoma, the delivery hub for oil traded on the New York Mercantile Exchange, sparking the sharp rebound in crude futures, after a $3 drop on Tuesday.

“The energy markets had assumed a percentage point interest rate cut by the Fed, but there were still some that expected the cut to be point, so you saw a rally above $94,” said Tom Knight, trader at Truman Arnold in Texarkana, Texas.

Knight said while he expected some selling, he expected prices to firm after the $4 rise.

Trailing crude, heating oil and gasoline futures gained further, despite inventory data showing big increases.

On the NYMEX, December crude oil settled up $4.15 or 4.6% at $94.53, a record-high settlement, after trading from $88.92 to $94.74, the highest price for a front-month contract since the exchange launched crude futures in 1983.

The previous record was set on Monday, at $93.80.

“The report is obviously bullish, the huge draw in crude was counter to expectations,” said Tom Bentz, analyst at BNP Paribas Commodity Futures in New York. “The draw in Cushing of over 3 million barrels is what is behind it.”

Bets that December crude would rise to $100 increased as traders bought more options on the contract at that strike price.

In London, December Brent crude gained $3.19 or 3.6% at $90.63, after trading from $86.13 to a record $90.94.

In New York, NYMEX November heating oil leaped 8.32 cents or 3.4% to $2.5078 a gallon, trading from $2.40 to $2.5218, which surpassed Monday’s $2.4720 record.

November RBOB ended 8.29 cents or 3.7% higher at $2.34 a gallon, after trading from $2.24 to $2.36, the highest since July 11’s $2.3605.

The Fed cut the overnight federal funds rate by a quarter percentage point to 4.5%, but said the risk of inflation was roughly equal to downside risks to growth, suggesting further rate reductions are far from a sure bet.

November 1, 2007 — Scarsdale, N.Y.

$5.8 million

This “elegant” home is set in Murray Hill, but not that Murray Hill (think grand houses and rolling hills, not cookie-cutter apartments and overcrowded bars). “Completely renovated” in 2006, this six-bedroom classic Tudor built in 1928 sits on more than 2 private, beautifully landscaped acres on a cul-de-sac. The impressive period architectural details, such as the mahogany moldings and trim, have been preserved, but the modern additions have been nicely integrated - including the oak-paneled elevator (connecting all four floors), the new slate roof, the enormous wine cellar and the radiant heat flooring in the rear and front entry, kitchen and all 6 bathrooms.

Agent: Leslie Dorf, Houlihan Lawrence, (914) 723-8877, ext. 340.

Greenwich Village

$6.3 million

Formerly the Washington Square Methodist Church, built in 1860, this Romanesque Revival building now offers salvation in the form of eight state-of-the-art loft condos, including this stunning three-bedroom, three-bath, 3,494-square-foot duplex penthouse. Cross the threshold by way of direct, keyed elevator access - after passing through the fingertip-recognition security system - and you’ll be crying “hallelujah” over all the amenities: central air, a windowed kitchen with Viking and Bosch appliances, an all-seeing “virtual doorman” (with visitor entry control, package delivery and remote monitoring) and a 600-square-foot terrace.

Agents: Wendy Maitland and Wilbur Gonzalez, Brown Harris Stevens, (212) 317-3660 and (212) 317-3665.

New Canaan, Conn.

$4.695 million

Plenty of exclusive homes offer water views or waterfront property. Well, here’s your chance to live above water: Inspired by Frank Lloyd Wright’s Fallingwater and designed by “internationally recognized architects,” this unique house was built on an existing foundation with terraces cantilevered over a waterway - something that likely couldn’t be duplicated today. With five bedrooms and six-plus bathrooms, the house is surrounded by 3 acres that border an adjoining pine forest and land trust, guaranteeing a remarkable level of privacy. We’d have to agree with the flyer that calls it “a place where nature and architecture are in perfect harmony.”

Agent: Inger Stringfellow, William Pitt Sotheby’s International Realty, (203) 966-2633.

Park Slope, Brooklyn

$6.5 million

What’s the difference between a prewar co-op on Central Park West and one along Prospect Park West? Well, for starters, both offer park views, but this particular Brooklyn duplex - occupying the 15th and 16th floors at the highest point in Park Slope - also has 360-degree views of New York Harbor and the entire Manhattan skyline. Beyond that, the 3,500-square-foot apartment boasts five bedrooms and six bathrooms, plus a “grand” living room and a “huge” formal dining room connected by a 15-foot gallery. The eat-in kitchen opens (as does the living room) onto a 2,300-square-foot terrace. You might find similar touches on Central Park West, but here you can have them for a fraction of the price.

Agent: Minette Stokes, The Corcoran Group, (718) 832-4145.

The European commission has called on EU states to consider greater use of nuclear energy in order to avoid increasing dependence on oil and gas imports and to improve the bloc’s energy security.

“Member states cannot avoid the question of nuclear energy. There needs to be a total and frank debate regarding this problem”, commission president Jose Manuel Barroso said at a high-level conference on energy in Madrid.

In addition, competition commissioner Neelie Kroes, who also took part in the conference, said she was personally “completely in favour of nuclear power”.

The use of nuclear energy has not been popular in Europe since the Chernobyl disaster in 1986 and the public opinion on the issue remains rather sceptical.

The bloc’s growing energy needs, however, as well as its increasing dependence on imports, notably from Russia, have prompted the EU to look towards other energy sources.

Among the EU states, France is one of those where nuclear energy is most developed — it gets over 75 percent of its electricity from it.

French president Nicolas Sarkozy recently called on neighbouring Germany to follow its example, but, despite discussion, Berlin has not changed its decision to shut all its nuclear plants by 2020

This difference in positions was also reflected at the Madrid conference on Monday (1 October).

The industry’s representatives from the French side largely backed the call for greater nuclear energy use.

“I am convinced that nuclear power is the response to European challenges”, said Pierre Gadonneix, president of French electricity giant EDF which operates 58 of the nuclear power plants in France.

“Everybody knows that some day we will have to tackle nuclear issue, when we discuss it in private settings, everybody agrees”, he added according to AFP.

But the president of German company E.ON, Wulf Bernotat, was less enthusiastic.

Nuclear power is a “very religious issue in Germany”, he said, adding that “public opinion has to be changed before one can consider nuclear again as a revival in the energy mix”.

It is generally up to member states to decide their energy sources and the commission — notably president Barroso, had mostly refrained from intervening in this sphere so far.

However, energy commission Andris Piebalgs told Spanish daily El Pais on Monday that the EU should do its best to generate 30 percent of its electricity from nuclear sources in order to enhance the bloc’s energy security.

U.S. Treasury debt prices fell on Wednesday after the Federal Reserve cut benchmark interest rates as expected but signaled it may refrain from further easing if the economy holds up.

The central bank cut the federal funds rate, the recommended overnight lending rate among banks, by a quarter percentage point to 4.50%, and said the move “should help forestall” any further deterioration in economic growth.

Bonds extended losses immediately after the Fed statement.

Benchmark 10-year notes traded 21/32 lower in price to yield 4.47% from 4.39% late Tuesday. Benchmark yields, which move inversely to prices, reached as high as 4.48%, the loftiest in over a week, and marking the biggest single-day jump in 10-year yields in over three weeks.

Short-term interest rate futures slipped on Wednesday, with futures implying a 42% chance the Fed will lower rates by 25 basis points again in December, to 4.25%, against 64% overnight. Bigger losses were seen in 2008 contracts as dealers scaled back ideas of rate cuts in the new year.

Bonds were already trading lower before the Fed statement, after stronger-than-expected jobs and economic growth data early in the day, along with stock market gains.

The government’s initial reading on third-quarter gross domestic product growth, released Wednesday morning, was an annualized 3.9%, its strongest quarterly growth since the first quarter of 2006.

Earlier, the ADP National Employment Report showed U.S. private employers added 106,000 jobs in October, raising the prospects that the government’s payrolls data on Friday will be stronger than the consensus forecast, analysts said.

Economists expect 80,000 jobs were added to U.S. nonfarm payrolls in October, down from September’s 110,000 gain, a recent Reuters poll showed.

Two-year Treasury notes traded 9/32 lower in price for a yield of 3.95% from 3.81% late on Tuesday. While two-year notes fell in price on Wednesday, their yields in October posted the fifth monthly drop in a row, which was their longest winning streak in four years.

Five-year notes traded 16/32 lower for a yield of 4.17% from 4.06%, while the 30-year bond traded 1-2/32 lower in price for a yield of 4.75%.