A big rise in foreign markets, together with some enthusiasm for yesterday's US election results, combined to boost momentum in early trading.

The Dow Jones touched 8820.21 - its highest level, even on an intraday basis, in over three months.

After an hour of trade, the index stood 91.40 points higher at 8797.55.

Standard & Poor's 500-Stock Index jumped 12 points and the New York Stock Exchange Composite Index rose 6 points.

The Nasdaq Composite soared 23 points.

The positive trend was broad-based, with technology, rate-sensitive and cyclical stocks all making strong gains.

Shares in Hewlett-Packard jumped $2 to $61 7/8, while Intel improved $2 1/2 to $92 7/8.

American Express shares rose $2 1/4 to $92 11/16 after bonds eased, while Chase Manhattan added $1 1/4 to $57 1/2.

Cyclical issues also improved. Aluminum Co of America was ahead $1 at $78 5/8 and Dupont gained $1 to stand at $601/16.