Around the World's Markets: New York

US STOCKS soared for a second day as a report on wages and employment eased concern that the Federal Reserve will raise interest rates to ward off inflation.

The Dow Jones Industrial Average rose 268.68, or 2.8 per cent, to a record 9736.08, topping an 8 January high in its biggest surge since October 15. The Standard & Poor's 500 Index climbed 28.82, or 2.3 per cent, to 1275.46. The Nasdaq Composite Index advanced 45.38, or 2 per cent, to 2338.27. IBM and other computer shares led the gains.