Around the World's Markets: New York

A SURGE in growth stocks led US shares higher, with the Dow Jones on course for yet another record at lunchtime yesterday.

Traders were targeting the magical 11,000 barrier for the Dow, with the market buoyed by the release of better than expected first-quarter growth figures.

The bullish sentiment also spilled over to the hi-tech Nasdaq index, which had suffered sharp falls earlier in the week.

At lunchtime, the Nasdaq was up 38.11 at 2566.55, with Internet shares staging a mini-rally.