Stocks thrived in the new interest rate environment yesterday, shooting to new record highs as investors expressed confidence that the US economy can continue to grow without runaway inflation.
On Wall Street, the Dow Jones industrial average closed at 11,326.04, on a gain of 42.74 points, or 0.4 per cent, topping the previous record close of 11,299.76, set on Monday.
Broader stock indicators were also higher. The Nasdaq composite index, which lists most of the nation's leading technology companies, rose for a fourth straight session.
The Standard and Poor's 500 rose 18.29 to 1,381.79, and the Nasdaq composite index rose 53.27 to 2,805.64.
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Advancing issues outnumbered decliners by a 10-to-9 margin on the New York Stock Exchange.
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