And for the first time, New York's housing stock has posted back-to-back gains in successive vacancy reports.

The report showed the first back-to-back gains exceeding 1 percent since 1985.

In a separate report, the Commerce Department index designed to forecast the economy climbed five-tenths of 1 percent for September, the first time this year there have been sizable back-to-back gains.

Four times, there were back-to-back gains exceeding 15 percent, and in three of those four, the second year was better than the first.

After skidding four of six sessions for a loss of 245 points, the technology-dominated Nasdaq composite index has now posted back-to-back gains for the first time since mid-month.

The stock market yesterday posted its first back-to-back quarterly gains since its tumble began in early 2000, reflecting improving corporate earnings and strengthening global markets.

The Dow Jones industrial average rose 38.44 points, to 6,346.77, for its first back-to-back gain since Nov. 25, and the Nasdaq composite index jumped 19.06, to 1,285.38.

The durable goods report, excluding transportation, followed an increase of 2.9 percent in October, the first back-to-back gains in almost two years.

On top of the much stronger gains in 2003, when the S.&P. 500 surged 26.4 percent, the major market gauges have now notched their first back-to-back annual gains since 1998-99.

The October decline of 1.6 percent was about four times what had been forecast and more than reversed back-to-back gains of 0.4 percent in August and September.