WALL Street stocks soared to record levels for the fifth consecutive session yesterday as a weak May retail sales report erased any fear that the Federal Reserve would soon raise interest rates.
The stock market also benefited from a report that net cash flows into equity funds rose 18 per cent in May.
The Dow Jones industrial average rose 135.64 points to close at 7,711.47.
The Standard and Poor's 500 composite and the New York Stock Exchange composite both set their fifth consecutive record highs. The American Stock Exchange composite set its fourth.
Advancers led decliners by more than two-to-one for most of the day on the New York Stock Exchange, where volume was strong at more than 500 million shares.
Stocks opened higher along with bond prices, after the commerce department said retail sales fell for a third straight month in May.
