NEW YORK -- Stocks rose to the highest level in three months today, overcoming some profit-taking in an autumn rally that keeps finding new life. Dow up 132
The Dow Jones industrial average erased a 68-point loss and rose 132.33 points to 8,915.47, the best close since July 28 and 422.50 points from the record 9,337.97 set 11 days earlier on July 17.
The Dow has now rebounded nearly 1,500 points since it slid below 7,500 less than a month ago on Oct. 8. The blue-chip barometer has gone seven straight sessions without a loss, gaining 55 points, and hasn't suffered a 100-point drop in more than a month.
Broader stock measures also recovered from a halfhearted bout of profit-taking.
The Standard & Poor's 500 index rose 15.01 to 1,133.68 and the technology heavy Nasdaq composite index advanced 13.53 to 1,837.10.
Advancers led decliners on the New York Stock Exchange, with 1,782 up and 1,274 down. Volume totaled 7.6 million shares.
The NYSE composite index gained 7.04 to 562.18, the American Stock Exchange composite index advanced 2.52 to 668.02 and the Russell 2000 index of smaller companies moved up 3.83 to 396.79.
The 30-year Treasury bond fell 11/32 to 102 7/32, with the yield rising to 5.35 percent.
The latest leg of Wall Street's surprisingly resilient rebound came amid comments from Federal Reserve Chairman Alan Greenspan suggesting that "investor fright" has lessened.
Overseas, Japan's Nikkei stock average fell 1.3 percent. Germany's DAX index fell 0.6 percent, Britain's FT-SE 100 fell 2.5 percent, and France's CAC-40 fell 2.4 percent.