Stocks moved higher on Wall Street yesterday, a possible sign that investors are more confident about the future direction of stock prices after several indecisive sessions.

The Dow Jones industrial average was up 60.21, or 0.5 per cent, at 11,252.84, after rising more than 120 points earlier in the day.

Broader stock indicators were also higher. The Standard and Poor's 500 index was up 7.64 at 1,514.09, and the Nasdaq composite index was up 27.91 at 4,070.59.

Stocks fluctuated last week, while mostly moving higher, as investors digested the new landscape now that interest rate hikes seem to no longer be a factor in trading.

"Investors have been extremely lackadaisical in the past few sessions," said Mr Don Hays, president of Hays Advisory Group in Nashville, Tennessee. But, he said, "people seem comfortable that there won't be any more interest rate hikes."

Financial stocks were up across the board today on the belief that stable interest rates will encourage borrowing and improve the lucrative business of underwriting stocks and bonds.

Advancing issues outnumbered decliners by a 5-to-4 margin on the New York Stock Exchange, where volume came to 723.21 million shares, up slightly from Friday's pace.

The Russell 2000 index was up 1.37 at 526.48.