DOW INDUSTRIALS SET 7,000-PLUS RECORD

It took the Dow Jones industrial average almost a year to go from 5,000 to 6,000, but less than four months for it to soar past the 7,000 barrier.

Financial analysts say the Wall Street bull is on the run as the nation's stock market reaches lofty heights. Some Wall Street experts forecast it will reach 10,000 by 2000.

Thursday's high of 7,040.91 marked the 12th new high this year for the Dow, which has padded last year's 26 percent advance with a nearly 9 percent gain in less than a month and a half.

Thursday's biggest gainers in the blue-chip averages included Merck, Philip Morris, Caterpillar, J.P. Morgan and IBM. Advancing issues outnumbered declines by more than a 2-to-1 margin on the New York Stock Exchange, with 1,739 up, 843 down and 764 unchanged.

The Nasdaq composite index -- which on Wednesday surged 27 points, or about 2 percent -- rose 11.74 to 1,370.70 Thursday, but remained about 17 points shy of a new high. The American Stock Exchange composite index rose 2.30 to 595.40.

A number of stockbrokers have predicted a continuation of good times on Wall Street.

"The stock market is on a good run and will continue," said Chris Hutson of Boatmen's Investment Services Inc. "There may be a few minor downturns, but I think the bull market is still in motion."

The 7,000 mark is no big surprise, said Hutson. "A lot of forecasters are saying the Dow will reach 10,000 by the year 2,000. Everything appears right for this to happen," said Hutson.

"Some people may have been surprised to see the stock market reach these levels this quickly," said Greg Deimund of Merrill Lynch. "But as long as interest rates stay the same or decrease, I think we'll see the stock trend increase."

Joe Domian agreed. "Everybody is amazed at how well the stock market is doing," said Domian of Edward Jones investments. "And we don't see any problems that will seriously derail the market.

"This is the fastest 1,000-point jump in the history of the Dow," said Domian. He explained that surging corporate profits combined with low inflation are responsible for much of the quick increases.

"Campbell's Soup is making money, IBM is making money, Phillip Morris is making money," said Domian. "This all goes together to help pull the Dow up. As long as something serious does not happen, the market should continue to go up.

The Dow hit 6,000 on Oct. 7, a few days shy of four months ago. It didn't take long for that to advance to 6,500.

More than a week ago the industrial average was about 6,750. It climbed steadily to 6,850 before dropping Monday. In a burst of euphoria, investors sent key stock indexes soaring this week to new highs, closing at a record 6,961 Wednesday before rocketing past the 7,000 mark Thursday.

The Dow has doubled its averages in half a decade. It didn't hit 1,000 until 1973. Another 14 years passed before it reached 2,000 and it wasn't until April 17, 1991, that it hit 3,000. Since 1991, the Dow has climbed more than 4,000 points.

THE DOW'S CLIMB

1,000 in 1973

2,000 in 1987

3,000, April 17, 1991

4,000, Feb. 23, 1995

5,000, Nov. 21, 1995.

6,000, Oct. 14, 1996

7,040, Feb. 13, 1997