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THE DOW Jones industrial average surged in the final half hour of trading as strong gains in a few blue chips drove the benchmark index higher.

The index, which traded in the red earlier in the session as rising oil prices stoked inflationary fears, soared on gains by Dow giants Microsoft and Coca-Cola to close up 85.6 at 11,089.5.

Meanwhile, the hi-tech-laden Nasdaq composite index posted its 14th record in 17 sessions, gaining 22.6 to end at 3392.2.