NEW YORK (AP) _ The Dow Jones industrial average edged higher just before the close today, closing at a record high for the fourth straight session despite a worrisome jump in interest rates in the bond market.

Several broad-market measures also withstood the drag of rising interest rates, but the technology-heavy Nasdaq market was stung by profit-taking.

The Dow, which on Friday closed above 8,500 for the first time, overcame a 35 point deficit and finished up 4.73 at 8,550.45, according to preliminary calculations.

The New York Stock Exchange composite index also slipped into positive territory to extend a record-setting streak, but the Standard & Poor's 500 index pulled back from Friday's record close.

Stocks were pressured throughout the day by a weak bond market, where interest rates rose above a key level following a report that spurred some rare inflation worries.

Overseas, Tokyo's Nikkei stock average rose 2.6 percent, Frankfurt's DAX index rose 0.6 percent and London's FT-SE 100 rose 0.9 percent.

In the first broad reading on the just-ended month, an association of factory executives reported that growth in the nation's manufacturing sector accelerated in February.

Economists had predicted no change in the monthly report by the National Association of Purchasing Management, which also said prices paid for factory supplies continued to fall in February, but at a slower pace.

The inflation-sensitive bond market slid after the report, which undermined arguments that the economic crisis in Asia will slow the U.S. economy enough to keep pricing pressures in line.

As bond prices fell, the yield on the 30-year Treasury _ a key influence on borrowing costs _ edged above 6 percent. The yield dropped below that level back in December, spurring hopes that increased borrowing and spending here would offset the economic drag from Asia.