Around the World's Markets: New York

Tuesday 17 November 1998 00:02 GMT

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EXPECTATIONS of lower interest rates powered Wall Street higher on Monday, driving the Dow above the 9,000 mark for the first time in more than three months. The Dow surged 91.66 points to 9,011.25, its highest since 30 July when it finished at 9,027.

The interest-rate sensitive financial sector led the rally, with Dow constituents American Express and JP Morgan leading the charge. The postponement of military action in the Gulf lifted the market, although oil shares suffered as the crude price fell.

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