THE Dow Jones industrial average yesterday raced to its 40th record close this year, propelled by another drop in long-term interest rates and a rally in the stock of International Business Machines Corp.
The Dow ended up 50.69 points at 6,397.60, surpassing Friday's high of 6,348.03 after Monday's minor dip of one point. In the broader market, advancing issues led declines by a 14-10 margin on active volume of 457 million shares on the New York Stock Exchange.
It slipped one point on Monday after rallying more than 350 points in the previous two weeks.
In the broader market, advancing issues led declines 1,435 to 1,008 on active volume of 454 million shares on the New York Stock Exchange.
"What a great tape. Oh my God! It's the most powerful bull market of all time and has the horses to go higher," said James Cramer of Cramer Co.
