IBM and other big technology names led the stock market to record highs again in volatile trading yesterday as interest rates fell to a new eight month low in the bond market.
On Wall Street, the Dow Jones industrial average rose 32.42 points to close at 6,430.02 six weeks after its first close above 6,000.
Broad market indices also pushed to more highs after seesawing in the first hour, surrendering an early follow through to Tuesday's rally and then sprinting higher again.
The Dow quickly gave back an opening 41 point advance only to bounce higher, gaining nearly 50 points during the afternoon.
The Standard and Poor's 500 stock index notched its ninth record finish in 13 sessions, and the New York Stock Exchange's composite index closed at a new high for the 10th time in 13 session.
The technology rich Nasdaq composite index flirted with a new high before the late drop off in leading computer related names such as Intel, Microsoft and Sun Microsystems.
Bonds rallied in the afternoon pulling the yield on the 30 year Treasury bond down to 6.40 per cent.
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