The stock market, inspired by the dollar's rally in foreign exchange, rolled up its second strong gain in a row in heavy trading today.
The Dow Jones average of 30 industrials, which had climbed 7.71 on Wednesday, jumped another 7.88 to 821.81.
Advances outnumbered declines by about a 9-5 margin on the New York Stock Exchange, and the exchange's composite index of all its listed common stocks was up 40 at 51.81.
Big Board volume reached a four-week high of 28.10 million shares, up from 24.51 million in the previous session.
Nationwide turnover in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, came to 32.69 million shares.
The dollar rebounded against leading foreign currencies today after a protracted slump.
A stronger dollar presumably would encourage buying of U.S. stocks by foreign incestors who have been holding back recently for fear of the risk of currency losses.
Brokers also said the market continued to respond favorably to the Organization of Petroleum Exporting Countries' inability to reach a decision this week on whether to increase oil prices.
That had the effect of freezing oil prizes until OPEC's next scheduled meeting next summer, unless the 13-nation body can arrange a special meeting before then.
At the American Stock Exchange, the market value index rose 66 to 125.60.
The NASDAQ composite index for the over-the-counter market closed at 103.41, up [WORD ILLEGIBLE]
The NASD reported volume of 10.80 million shares.