Stock prices rebounded smartly in New York, boosted by strong earnings reports and growing confidence that Nato air strikes in Kosovo would not reverberate on Wall Street. The Dow Jones industrial average rose 169.55 points - or by 1.7 per cent - to close at 9,836.39, the blue chips' first advance after four days of losses.

Technology stocks were boosted by a report that semiconductor maker Micron Technology had turned a profit in its second quarter after four straight losing quarters. Micron's results didn't meet investors' expectations and its stock was down on the New York Stock Exchange. But other computer stocks, including Microsoft, were higher in Nasdaq trading.

Advancing issues outnumbered decliners by a nearly nine-to-five margin on the New York Stock Exchange, with 1,899 up, 1,064 down and 600 unchanged. NYSE volume totalled 777.62 million shares, against 759.71 million in the previous session.