Dow up 94; Nasdaq
tops 2,000

NEW YORK -- Stocks rallied to record levels today, with a fresh batch of stronger-than-expected corporate profits and a surge in technology shares pulling Wall Street from its early morning lows.

The Dow Jones industrial average rose 93.72 to 9,328.19, closing above 9,300 for the first time and topping the previous record set yesterday. The Standard & Poor's 500 rose 9.21 to 1,184.02 while the Nasdaq composite index rose 6.02 to 2,000.54, notching its seventh straight high and eclipsing 2,000 for the first time.

Advancers outnumbered decliners by a 7-to-5 margin on the New York Stock Exchange, with 1,732 up, 1.216 down and 578 unchanged.

NYSE volume totaled 676.45 million shares vs. 721.91 million in the previous session.

The NYSE composite index rose 4.50 to 599.99, and the American Stock Exchange composite index rose 1.42 to 731.81.

The Russell 2000 index of smaller companies rose 1.66 to 463.64.

The 30-year Treasury bond fell 25 cents, or $2.50 per $1,000 bond, to 105 22/32, sending its yield up 2 basis points to 5.72 percent.

Stocks began the day lower, weakened by a bout of profit-taking from investors looking to cash in on Wall Street's recent record gains. With today's gains, the Dow is up more than 17 percent this year, while the Nasdaq has gained more than 27 percent.

Among the biggest earnings surprises was Apple Computer Corp., which late yesterday reported its third straight money-making quarter. Apple stock was up $3.06 at $37.50 in Nasdaq trading.