NEW YORK -- Stocks rose sharply today, with some measures bouncing back into record territory after a minor setback on Friday. Dow gains
116 to top 8,700The Dow Jones industrial average rose 116.33 points to 8,718.85, topping last Wednesday's record of 8,675.75 and closing above 8,700 for the first time.
With today's advance, the Dow has already risen 10 percent, or about 800 points, in 1998, topping many forecasts for the entire year. The Dow's has also rebounded by 15 percent from early January's slide to 7,580.
Advancers led decliners by a 3-to-2 margin on the New York Stock Exchange, with 1,809 up, 1,174 down. NYSE volume was 546.82 million shares, down from 594.58 million on Friday.
Broad-market indicators also posted record-setting gains, with the technology-heavy Nasdaq composite index setting a new high for the first time since late February.
The Standard & Poor's 500-stock list rose 10.68 to 1,079.27, and the NYSE composite index gained 4.77 to 561.94, the fourth record close in five sessions for both measures.
The Nasdaq composite index rose 16.52 to 1,788.18, topping the Feb. 26 record of 1,777.11.
The Russell 2000 index of smaller companies rose 2.99 to 471.76, its fourth consecutive record close after a five-month drought. The American Stock Exchange composite climbed 2.33 at 718.44.
The price of the Treasury's main 30-year bond was up 13/32 point, or $4.06 per $1,000 in face value, by late afternoon, while its yield fell to 5.86 percent from 5.89 percent late Friday.