US stocks stormed higher today as the government's consumer price report calmed the market's jitters about encroaching inflation. The Nasdaq composite index shattered its record for a one-day point gain as software and Internet stocks recovered lost ground.

At the close of trading, the Dow Jones Industrial Average was up 189.96, or by 1.8 per cent, to 10,784.95.

Boosted by a strong earnings show by Oracle, the business software maker, the Nasdaq shot up 103.16 to 2,517.83, surpassing the previous record for a one-day point gain, of 96.05, set on February 11th. The Standard and Poor's 500 Index was up 29.38 at 1,330.54.

Advancing issues outnumbered decliners by a 13-to-7 margin on the New York Stock Exchange, with 1,998 up, 1,055 down and 510 unchanged. The Russell 2000 index of smaller companies rose 6.29 at 440.30.