The Dow Jones industrial average rose 23.85 to 5,588.59, mostly on gains in the blue-chip index's three oil stocks. The Dow has meandered aimlessly for the past few sessions, while smaller company stocks have lifted other indexes to new records.

Advancers led decliners by about 9 to 7 on the New York Stock Exchange, with 1,335 up, 1,050 down and 739 unchanged. Volume totaled 452.66 million shares vs. 394.01 million in the previous session.

Other market measures rose today, but technology stocks, which have resumed a leadership role after a broad sell-off that began late last year, were the only decisive gainers.

The NYSE composite rose 1.79 to 349.60 and the S&P 500 rose 3.69 to 651.58. The Amex market value index gained 3.36 to 590.73.

The Nasdaq composite, heavily weighted with technology issues, plowed further into record territory. It rose 11.60 to 1,165.10. The index has now advanced nearly 6 percent in less than two weeks.

In economic news, the Commerce Department reported that the U.S. trade deficit shrank by 17.1 percent in February, reversing part of a huge increase in January, as American exports of services hit an all-time high.

Oil stocks rose with oil prices amid news the United States and Britain have pushed the United Nations to toughen its negotiating position with Iraq over a possible oil-for-food deal.