Around the World's Markets: NEW YORK

US STOCKS and bonds gained amid optimism that the Federal Reserve's interest-rate cut will help to boost corporate profits without leading to an acceleration of inflation. Internet-related companies such as Cisco Systems and America Online led the gains.

The Dow Jones Industrial Average rose 54.83, or 0.6 per cent, to 9041.11. The Standard & Poor's 500 Index gained 5.16, or 0.5 per cent, to 1144.48. The Nasdaq Composite Index, packed with Internet stocks, rose 18.92, or 1 per cent, to 1897.44.