WALL Street's blue chip shares extended their rally yesterday, boosting the Dow Jones industrial average above 6,500 for the first time.
The industrial average rose 76.03 points to close at 6,547.79, its 12th record close in the last 14 sessions, taking the year's gain to about 28%.
Stocks started the session weak, but quickly turned higher, fleshing out Friday's late rally as bonds rose on the latest indication that the US economy has slowed from the robust and potentially inflationary pace of earlier this year.
Sales of existing homes were reported to have fallen 1.5% in October, their fifth consecutive monthly decline.
Advances outnumbered declines by an 11 to 6 margin on the NYSE, with 1,649 up, 904 down and 796 unchanged.
NYSE volume totalled 475.25 million shares, against 525.20 million in the previous session. The S and P 500 jumped 8.30, or 1.1%, to 757.03. The NYSE composite index rose 4.20 to 398.86.
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