Around the World's Markets: NEW YORK

Wednesday 02 September 1998 23:02 BST

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US STOCKS rose for a second day as investors snapped up shares of companies with fast-growing earnings, including Cisco Systems, Dell and drug makers. The Dow rose by 110.97 points, 1.4 per cent, to 7,938.57 in early trade.

With US corporate profits expected to rise between 3 and 4 per cent this quarter, "the market is likely to pay up for companies that can sustain double-digit earnings growth,'' said John Davenport, chief investment officer for large stocks at Mentor Investment Group.

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