Around the World's Markets: New York

WALL STREET pressed on to new and giddy heights as the Dow neared the 10,000 milestone. The index hit a new trading high of 9959.88 during a morning rally, but later eased back.

The charge was led by technology stocks. Transport stocks also surged as UAL, a transport group, gave a bullish forecast. The sector has been boosted by the fall in the oil price and fare hikes for customers.