WALL Street stocks surged yesterday, rallying with the dollar as interest rates sank in the bond market amid news that US wage inflation was almost negligible last month.

The Dow Jones industrial average rose 82.74 points to close at 6,855.80 and is now less than 30 points from its all-time best close of 6,883.90 set on January 21.

Broader measures bounced back from an afternoon stumble with the Standard and Poor's 500 list and the New York Stock Exchange composite index, both dominated by larger companies, marching to new highs.

Advances outnumbered declines by a 7-to-4 margin on the NYSE, with 1,649 up, 942 down and 772 unchanged.