Dow Jones: 5754.92 (+27.74)
STOCKS in New York rose yesterday with the Dow Jones industrial average creeping toward record levels as a new report reinforced optimism that inflation was not alarming enough to send interest rates soaring.
Trading remained somewhat restrained, however, as investors braced for some key inflation data later this week.
The Dow rose 27.74 points to close at 5754.92, pulling within 24 points of its all time best finish at 5,778.00, set on May 22nd. Earlier in the afternoon, the famed blue chip barometer was up more than 40 points, or less than 11 points from the record.
Both the Dow and broader measures had sagged in the morning amid some weakness in the bond market. But bond prices jumped higher at noon alter the Federal Reserve published the results of its periodic survey on regional business conditions.
Advancing issues outnumbered decliners by six to five margin on the New York Stock Exchange.
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