Stocks extended a month-end rally in New York yesterday, with the S and P 500 setting a record high and the Dow Jones industrial average moving above 8,000 for the first time since early January before pulling back slightly.
Broader stock indicators also struggled at the start before drawing a boost from the bond market, where interest rates fell sharply as Federal Reserve chairman Mr Alan Greenspan delivered an unalarming report to Congress.
Volume was very heavy again, with about 750 million shares changing hands on the New York Stock Exchange and more than 800 million changing hands on the Nasdaq Stock Market.
Advancing issues outnumbered decliners by 12-to-7 on the NYSE, with 1,874 up, 1,097 down and 510 unchanged.
NYSE volume totalled 749.62 million shares, at least the fourth biggest tally in its history. On Wednesday, 711.26 million shares were traded, which was the sixth heaviest volume before yesterday.
