NEW YORK - Stocks advanced strongly today as Microsoft Corp.and a growing array of hot Internet companies rocketed the Nasdaq to a new record high. Dow up 54.33
At the close on Wall Street, the Dow Jones industrial average was up 54.33 at 9,070.47.
The technology-heavy Nasdaq composite index rose 37.48 to 2,040.64, beating the old record of 2,016.44 set Nov. 27. The Nasdaq is now up 29 percent for the year, an increase twice as high as the Dow.
Microsoft increased $6.19 to $133.56 after South Carolina withdrew from the antitrust suit against the software maker.
Other Nasdaq bellwethers also rose, including Dell Computer Corp., up $1.62-1/2 at $67.62-1/2 and Intel Corp., up $2.62-1/2 at $118.94.
The biggest mover on the Nasdaq was Thrustmaster Inc., which increased 137 percent to $11.25 after the company announced the release of a new Internet software product. The software, called Talk N' Play, allows up to four people to simultaneously conference call and play games over the Internet without any additional fees or phone charges.
Broader stock indicators were also up.
Advancers outnumbered decliners by a 9-to-8 margin on the New York Stock Exchange, where volume came to 654.67 million shares.
The Standard & Poor's 500 index was up 10.96 at 1,187.70.The NYSE composite index was up 3.84 at 577.33, and the American Stock Exchange composite index was up 3.95 at 664.34. The Russell 200 index of smaller companies was up 2.80 to 401.17. The 30-year Treasury bond was up 3/32 to 103-10/32, with its yield falling to 5.03 percent.
The Nikkei stock average rose 0.6 percent.