Wall Street stocks gained on the last day of a strong first-quarter yesterday and bonds closed higher as Federal Reserve policy makers left short-term rates unchanged.
The dollar rose against the yen as attention remained focused on Japan's stagnant economy.
The Dow Jones industrial average closed up 17.69 points at 8,799.81. During the first three months of the year, the index gained more than 11 per cent.
"There was a lot of random noise with last minute portfolio alignment, but the market has a firm underlying tone, and portfolio managers are buyers on balance," Mr Michael Metz, chief investment strategist at CIBC Oppenheimer said.
In the broad market, advancing issues beat declines 1,922 to 1,032 on New York Stock Exchange volume of 655 million shares. The technology-heavy Nasdaq composite index was up 16.98 points at a new high of 1,835.68.
The oil-sensitive Dow Transportation index jumped 77.76 points, or 2.2 per cent, to 3,577.09 on the prospect of lower fuel prices.
