Around the World's Markets: New York

STOCKS RACED ahead as bargain hunters rushed into the market after recent falls amid nervousness over possible interest-rate rises.

The Dow Jones index ended up 115.88 at 10,979.04, clawing back some of last week's loss of 300 points. The technology-laced Nasdaq jumped 2.3 per cent to 2,679.69. Analysts said turnover was subdued ahead of the second half of the Fed chairman, Alan Greenspan's, Humphrey-Hawkins testimony today.