Blue-chip stocks led the New York market higher yesterday as investors welcomed the latest indication that US inflation was under control. Technology shares were held to modest gains.
On Wall Street, the Dow Jones industrial average rose 89.91, or 0.8 per cent, to close at 11,224.70.
Broader stock indicators posted more modest advances. The Nasdaq composite index set a new closing high despite trading lower for much of the session.
According to preliminary calculations, the Standard and Poor's 500 rose 8.93 to 1,417.04, and the Nasdaq composite index rose 26.11 to 3,620.28.
Advancing issues barely outnumbered decliners on the New York Stock Exchange, with 1,559 up, 1,506 down and 507 unchanged.
NYSE volume totalled 981.35 million shares, against 1.11 billion in the previous session.
