Stocks charged back towards record levels in New York yesterday as the market's sudden bout of interest rate jitters continued to fade with another day of favourable economic data.

The Dow Jones industrial average rose 83.70 points - or about 1% - to 9,147.07, a gain of nearly 200 points in two days and less than 40 points shy of last Tuesday's closing record of 9,184.94.

Advancing issues outnumbered decliners by an eight-to-five margin on the New York Stock Exchange, with 1,832 up, 1,135 down and 515 unchanged.

NYSE volume totalled 571.84 million shares, against 693.06 million in the previous session. The Standard and Poor's 500-stock list rose 9.26 to 1,121.01.