Around the World's Markets: New York

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The Independent Online
STOCKS rose after a strong fourth-quarter economic report spurred investor confidence in corporate profits. The Dow climbed 77.5 to 9,358.83, led by IBM and Hewlett-Packard. The S&P 500 rose 13.87 to 1,279.32. The Nasdaq gained 27.34 to 2504.94, breaking through 2,500.

The market leapt on a report that GDP grew at an annual rate of 5.6 per cent in the fourth quarter, well above the 4.5 per cent analysts expected, while inflation stayed low.