Around the World's Markets: New York

Friday 19 March 1999 00:02 GMT

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US STOCKS rose and the Dow Jones index closed within three points of the 10,000 mark. The market rallied after a report showed that inflation remains tame as the economy booms. Philip Morris led the gains.

The Dow climbed 118.21 points, or 1.2 per cent, to 9,997.62. The Standard & Poor's 500 index rose 18.73 points, 1.4 per cent, to a record 1,316.55. The Nasdaq index climbed 33.99 points, 1.4 per cent, to 2,462.96. Fifteen stocks advanced for every 13 that fell on the New York Stock Exchange.

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