Stocks moved broadly higher in a late rally on Wall Street yesterday as new economic reports eased investor fears about an interest rate increase next week. The Dow Jones industrial average, led by financial stocks, rose 173.71, or 1.6 per cent, to close at 10,769.01, its highest level in nearly eight weeks.

Broader stock indicators were higher. The Standard and Poor's 500 index rose 14.62 to 1,396.08, and the Nasdaq composite index rose 23.59 to 3,220.88.

Advancing issues outnumbered decliners by a better than 8-to-7 margin on the New York Stock Exchange, with 1,670 up, 1,317 down and 538 unchanged.

NYSE volume totalled 895.27 million shares, against 879.27 million in the previous session.

The Russell 2000 index of smaller companies rose 2.20 to 449.69.