Analysts said investors were eager for a reason to buy stocks after driving down prices for six straight weeks, and the previous four sessions in particular. But investors also are wary of committing to the market, given uncertainty over earnings, the economy and the possibility of war with Iraq.

Investors' wide-ranging emotions were evident in how stocks fluctuated throughout today's session. The Dow Jones industrials rose as much as 199 in afternoon trading, having dropped as much as 91 earlier.

"People are looking for a rally after stocks have been knocked down so relentlessly," said Barry Berman, head trader for Robert W. Baird & Co. in Milwaukee. "(But) there really isn't any good news out there right now. ... The market has been selling off because of a weakening economy and consistent lowering of earnings forecasts. The market is looking for that to turn around, and that just hasn't happened yet."

The Dow closed up 78.65, or 1.1 percent, at 7,501.49, according to preliminary calculations. It was the Dow's first progress in five sessions, on the heels of a four-day loss of 515.95.

The market's broader indicators were also higher after four straight days of selling. The Nasdaq composite index rose 9.72, or 0.9 percent, to 1,129.12, but was still trading at closing levels last seen in August and September 1996.

The Standard & Poor's 500 index advanced 11.14, or 1.4 percent, to 796.42.

Analysts attributed the advance largely to optimism that the 10-day standoff between West Coast longshoremen and shippers would end.

This afternoon, the longshoremen's union agreed to go back to work tomorrow under a 30-day contract extension.

Also, President Bush directed government lawyers today to go to court to seek an injunction to end the labor dispute, which has cost the frail economy as much as

$2 billion a day.

Lower stock prices also contributed to the advance. All three indexes have suffered six straight weeks of declines on worries about Iraq and third-quarter earnings, which companies will be reporting in the next few weeks.

Amid a spate of profit warnings, analysts' third-quarter growth estimates for companies have fallen to 5.4 percent from earlier forecasts of 16.6 percent, according to Thomson First Call.

"That is a much more significant downward revision than we usually see in a quarter," said Ken Perkins, research analyst at Thomson First Call, adding that quarterly estimates are typically lowered by about 3 percent,

The market also was mindful today of developments dealing with Iraq. The House and Senate today were debating resolutions to authorize President Bush to declare war on Iraq and are expected to vote Thursday.

Among today's winners on Wall Street, PepsiCo soared $5.32, or nearly 15 percent, to $41.10 on third-quarter earnings that were a penny a share higher than analysts' estimates and an upbeat outlook for yearly profits. The company said its annual income should be at the high end of expectations.