STOCKS climbed over sinking bond prices to end higher yesterday, as investors continued to react to Wednesday's cut in short-term interest rates by the Federal Reserve.
Stocks rose despite a loss of nearly a point in long-term bond prices, which pushed the yield on the 30-year Treasury up to 6.08 per cent.
Advancers led decliners by about 11 to eight on the New York Stock Exchange, with 1,407 up, 1,025 down and 670 unchanged.
Big Board volume totalled 458.74 million shares as of 9 p.m. British time, against 472.18 million on Wednesday.
The NYSE's composite index rose 1.20 to 341.23. The Standard and Poor's 500-stock index rose 2.38 to 638.40. The Nasdaq composite index rose 8.06 to 1,067.85.
At the American Stock Exchange, the market value index rose 1.58 to 555.68.
