Around the World's Markets: New York

WALL STREET gained ground in early trading, with the Dow Jones 81 points better at 8,453.32 at midday. IBM rose $2 to $148.18 after announcing the launch of computers priced under $600.

Pharmacia and Upjohn led gains in pharmaceuticals, but Coca-Cola eased on fears of dearer orange juice costs, while Anheuser Busch fell back after overnight results.

The Nasdaq composite index also slipped back slightly. Rising employment costs had little effect on bond prices.