Stocks climbed yesterday as investors looked for post-Christmas bargains in consumer and technology names, helping to lift blue chips for a fourth straight trading session.

Investors were betting the US Federal Reserve would lower interest rates as a slowing economy cast a cloud on corporate profits, consumer confidence and the stock market. Some players are hoping a rate cut could come before the central bank's next monetary policy meeting on January 31st.

The technology-dominated Nasdaq composite remains on track for the worst yearly performance in its history, surpassing a 35.1 per cent drop in 1974, as a weakening economy takes its toll on corporate America's bottom line.

Supporting the Dow's rise were Walt Disney, up $1-3/8, or 5.1 per cent, to $28-5/16, Home Depot, which gained $21/16, or 5.1 per cent, to $42-3/4 and Procter & Gamble, up $2-1/16, or 2.8 per cent, to $76-1/2.