Technology stocks led Wall Street to new highs, fuelled by a better-than-expected profit report from IBM. The Dow Jones industrial average rose 43.10 points - or 0.4 per cent - to 9,184.94, topping Friday's record close of 9,167.50. The blue-chip barometer opened the day with a 43-point loss before turning higher.

Broad-market measures also finished at record levels, with the Standard and Poor's 500 and the technology-heavy Nasdaq composite index setting new marks for the third straight session.

IBM rallied nearly 7 points - or the equivalent of more than 25 Dow points - after posting its first-quarter results late Monday.

The Nasdaq market posted the day's sharpest advance, thanks to big gains from bellwether issues such as Intel and Dell Computer, as well as a sudden gold rush for any company with Internet related business.

Advancing issues outnumbered decliners by an 8-to-7 margin on the New York Stock Exchange.