Dow gains 50
to set record

NEW YORK -- The Dow Jones industrial average coasted to a new high today, with U.S. stocks and bonds looking like an increasingly safe bet amid the latest Asian economic and social turmoil.

The Dow rose 50.07 points to close at 9,211.84, beating May 4's record close of 9,192.66. The Dow has now risen four consecutive sessions, gaining about 235 points.

Decliners led advancers by a slim margin on the New York Stock Exchange, with 1,427 up, 1,552 down and 556 unchanged. NYSE volume was 599.25 million shares vs. 600.91 million yesterday.

Most broad-market indexes also posted modest gains, but remained well below record territory, underscoring the recent preference for the bluest of the blue-chip stocks.

The Standard & Poor's 500 rose 3.07 to 1,118.86, and the Nasdaq composite index climbed 6.02 to 1,866.18. The NYSE composite index gained 0.92 to 579.20, but the American Stock Exchange composite index slipped 0.59 to 742.99. The Russell 2000 index of smaller companies rose 1.35 to 477.48.

For the second day in a row, stocks drew key support from the bond market, where the yield on the 30-year Treasury -- a key determinant of borrowing costs -- fell farther below 6 percent.

The price of the Treasury's main 30-year bond rose 7/16 point, or $4.37 per $1,000 in face value, by late afternoon, while its yield slipped to 5.94 percent from 5.97 percent late yesterday.

Money continued to flow away from Asian markets following yesterday's fatal shooting of six student protesters in Indonesia.