THE Dow Jones industrial average ended above 5,700 for the first time in a month as vigorous buying in semiconductor stocks spilled over to other high technology issues and the broader market.
Chip stock buying was ignited by Merrill Lynch's upgrade of Micron Technology Inc., up 4 to 26 and the most active issue on the New York Stock Exchange.
The Dow rose 22.56 points to 5,718.67, adding to Tuesday's 22 point gain. The index is now a stone's throw from its record closing high of 5,778.00 set May 22nd.
On the New York Stock Exchange, advancing issues outpaced declines 1,386 to 951 on moderate volume of 394.8 million shares.
The blue chip index last ended above 5,700 on July 3rd at 5,703.02, before a shockingly strong June payrolls report on July 5th and subsequent earnings warnings from some blue chip technology companies triggered a Wall Street correction.
