Around the World's Markets: New York

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US STOCKS rose to record highs; the Nasdaq closed 21.20 up at 2,793.06, and the Dow Jones climbed 66.81 to a record 11,193.70, led by McDonald's.

Dell Computer Corp also led the way on optimism that demand for personal computers may be stronger than expected.

"Inflation, even though people are nervous about it, is still under wraps. Earnings are coming in better than people expected," said Michelle Clayman, chief investment officer of New Amsterdam Partners LLC.