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NEW YORK — A rebound in technology stocks set off another big rally on Wall Street Tuesday, lifting the Dow Jones industrials more than 250 points to their first close above 10,000 in nearly a month. 

But analysts remained cautious, noting that the market remains highly susceptible to more declines as first-quarter earnings reports begin. That vulnerability was underscored in extended trading when tech bellwether Motorola reported a worse-than-expected loss. 

“The bear market is still in force. This rally is a good and an important sign that maybe we’re starting to bottom, but there’s no evidence we’ve bottomed yet,” said Bob Streed, portfolio manager of Northern Select Equity Fund. 

The blue chips rose 257.59, or 2.6 percent, to 10,102.74, their first close above 10,000 since March 15. At one point during the session, the Dow was up 310 points. 

Enthusiasm for technology stocks led the rally.  

Microsoft rose $2.53 to $59.68, while Intel, which was downgraded by two investment firms Monday, jumped $1.57 to $24.77, more than recovering from the previous session’s 43-cent loss. 

And consumer product companies lagged as investors shifted their focus to technology. Procter & Gamble fell $1.64 to $58.70. 

Wall Street has alternately rallied and then fallen back during April, leaving many analysts skeptical about the durability of the market’s advances. 

The Dow had fallen below 10,000 last month amid investors’ deepening pessimism about the economy and its effect on earnings. With first-quarter earnings reports just starting and mixed signals about the health of consumer confidence and corporate profits, many analysts say it’s too soon to tell if stocks are recovering or merely staging bear market rallies. 

“I think we need a little more time. We need some good earnings, we need the negative news to kind of back off,” said Robert Harrington, head of equity trading at UBS Warburg. 

Harrington attributed much of the advance to buying by large institutions, but he said the overall market mood appears to be stabilizing. 

“As people get more confident, the demand will pick up,” he said. 

Market watchers also said the selling pressure created by investors trying to minimize their losses appears to have eased somewhat, although it is still a threat to the longevity of rallies. 

“There are lots of people who would love to sell some of their stocks at higher prices, which is why these rallies have failed in the past,” Streed, the Northern Select portfolio manager, said. 

Advancing issues led decliners more than 2 to 1 on the New York Stock Exchange. Consolidated volume came to nearly 1.60 billion shares, compared with 1.24 billion shares Monday.