Around the World's Markets: New York

THE DOW Jones Industrial Average rose 138.26, or 1.6 per cent to 8730.87 in the early afternoon on confidence that interest-rate cuts will keep the US growing even as economies in Asia founder.

Coca-Cola accounted for one-10th of the Dow average's gain, after Warren Buffett, the billionaire investor whose Berkshire Hathaway controls about 200 million shares of the beverage company, said he expected Coke's business to keep growing.