Around the World's Markets: New York

SHARE prices traded close to their highs in late morning after Wall Street had its first chance to react to the weekend speech by Alan Greenspan, the chairman of the Federal Reserve, which hinted at an easing of fiscal policy.

The Dow soared more than 300 points to 7,947.41 before steadying at a near 230-point gain. Dealers said many fund managers were buying to cover short positions. The Nasdaq was up 67.56 points at 1,634.08.