Big-name technology and financial stocks rallied on Wall Street yesterday, lifting the Dow industrials to the highest level in nearly two months and boosting the Nasdaq market to record levels for the first time since April.

The Dow Jones industrial average rose 89.93 points - or one per cent - to 9,174.97, the blue-chip barometer's highest finish since its record close of 9,211.84 on May 13th.

The technology-heavy Nasdaq composite index rose about 27 points to 1,935, rushing past its nearly three-month-old closing record of 1,917.61, set back on April 22nd.

Advancing issues outnumbered decliners by a 7-to-5 margin on the New York Stock Exchange, with 1,751 up, 1,241 down and 547 unchanged. The ratio of winners to losers was even smaller in Nasdaq trading.

The Russell 2000 index of smaller companies rose 0.61 to 459.66, and the American Stock Exchange composite index rose 0.69 to 728.65.