Stocks soared yesterday as a stronger-than-expected profit report from Hewlett-Packard propelled the Dow industrials to their first close above 11,000 in more than two months. The Dow Jones rose to its highest close since September 9th. Broader stock indicators also rose sharply, finishing the session with new records.

Declining issues barely outnumbered advancers on the New York Stock Exchange, with 1,539 down, 1,524 up and 496 unchanged.

NYSE volume totalled one billion shares, against 938.68 million in the previous session. The Russell 2000 index of smaller companies rose 4.17 to 461.24.

Hewlett-Packard drew the Dow higher, adding nearly 65 points to the blue-chip average. The company said earlier in the week that it had operating earnings of 75 cents a share in the quarter to October 31st, beating analysts' reduced expectations of 73 cents a share.

Analysts had reduced their predictions after company officials warned they were too high.