NEW YORK, JUNE 17 -- The stock market barely budged today, encountering some resistance after Tuesday's rise to record highs.

The Dow Jones average of 30 industrials closed at 2407.35, unchanged from Tuesday, after drifting in a narrow range all day. Volume on the New York Stock Exchange stepped up to 184.72 million shares from 157.79 million in the previous session.

On Tuesday, the Dow Jones industrial average rose 15.81 points, surpassing its previous high of 2405.54 set on April 6.

The market began today's activity with a seven-session winning streak, even though trading volume has plugged along at a less-than-impressive pace lately.

Analysts say stocks have been benefiting from a spreading belief that the dollar has stabilized in foreign exchange, reducing upward pressure on interest rates.

At the same time, money managers at many investing institutions are believed to be eager to add to their stock holdings by the end of June, when they make their midyear reports to their bosses and clients.

Nationwide turnover in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 213.06 million shares.

Standard & Poor's index of 400 industrials rose 0.18 to 353.22, and the Nasdaq composite index gained 0.91 to 428.44.