Dow up 78,
rates continue slide

NEW YORK -- The Dow's slow recovery from August neared completion today while broader stock indexes set more record highs.

According to preliminary calculations, the Dow Jones industrial average rose 78.09 to 8,178.31, only about 80 points from its Aug. 6 peak of 8,259.31.

Advancers outnumbered decliners by a 5-to-4 margin on the New York Stock Exchange, with 1,631 up, 1,279 down and 518 unchanged. NYSE volume was 551.41 million shares vs. 494.85 million yesterday.

The S&P 500 rose 10.42 to 983.11, the NYSE composite rose 4.51 to 514.21, and Nasdaq composite rose 15.10 to 1,737.01.

The Russell 2000 rose 2.08 to 463.78 for its 24th record close in 29 sessions, and the Amex composite rose 5.10 to 721.90.

As bond prices rose today, the yield on the 30-year Treasury bond fell to 6.24 percent, a level it hasn't finished at since Feb. 16, 1996.

The long-bond yield -- a key determinant of borrowing costs -- stood as high as 6.69 less than a month ago amid uncertainty over whether the economy was reaccelerating at an inflationary pace.

For the second straight day, there was little in the way of major economic news to alter the upbeat inflation outlook behind the bond market's month-long rally.

Meanwhile, in one of the earliest samplings of how blue-chip technology companies faired during the third quarter, Motorola reported late yesterday that its profits improved 29 percent, meeting analyst forecasts that had been guided lower by the company back in September. Motorola rose sharply.