Wall Street pushed to new 52-week highs today as investors cautiously picked up shares on expectations of stronger growth in 2004. A heightened terror alert limited gains.

The Dow closed up 265.89, or 3.2%, at 8,607.52, the biggest one-day gain since October 15, when it rose 378.28.

Wall Street extended its holiday lull last night, closing mixed as investors refrained from making big bets.