NEW YORK, JUNE 22 -- The stock market advanced today, gaining support from a stronger dollar, better bond prices, growing foreign demand and an effort by large investors to embellish their portfolios before the second quarter ends.
The Dow Jones industrial average rose 24.66 points to close at 2445.51, the third-straight session that Wall Street's best-known barometer has hit a new record.
Most broader market indicators also advanced, but lagged behind the pace set by the Dow Jones industrials. Still, many analysts said the tone of the market remained positive for the foreseeable future.
"The major influences in the market are what's been stimulating buyers in the last several weeks -- the bond market is firm, the dollar is firm and institutional investors are still holding large levels of cash reserves," said Alfred Goldman, director of technical market analysis at A.G. Edwards & Sons Inc., a brokerage based in St. Louis.
On the New York Stock Exchange, 900 issues advanced, 671 declined and 394 remained unchanged. Volume on the Big Board totaled 178.21 million shares, compared with 220.48 million in the previous session.
The NYSE's composite index, which measures all listed issues, rose 1.24 to 173.77.
Standard & Poor's index of 400 industrials rose 3.35 to 359.61, and S&P's 500-stock composite index was up 2.68 to 310.20.