Wall Street's enjoying a firmly positive day, with stocks surging right alongside bonds.

The bellwether 30-year Treasury was up 31/32 to 98 13/32, its yield easing to 5.36%. And all major indices were higher, with the

Dow Jones Industrial Average

up 83 to 9358, the

S&P 500

up 18 to 1248, the

Nasdaq Composite Index

up 36 to 2358 and the

Russell 2000

up 3 to 402.

There was plenty of power in the Internet group, despite a slide in

Yahoo!

(YHOO)

.

TheStreet.com Internet Sector

index was up 12 to 496 and

TheStreet.com E-Commerce Index

was up 3 to 103.

Dell

(DELL) - Get Report

is a big focus for the market as it prepares to report fourth-quarter earnings after the close. The PC giant was up 3 1/2 to 93 7/16 on 15 million shares, making it the

Nasdaq Stock Market's

most active issue.

Most active on the

New York Stock Exchange

was

Philip Morris

(MO) - Get Report

, which just got past the antitrust waiting period on its purchase of three

Brooke Group

brands. Big Mo was down 9/16 to 39 7/8 on 12 million shares. Brooke was up 5/8 to 19 7/8.

NYSE advancers were beating decliners 1,746 to 902 on 191 million shares. On the Nasdaq, ups were leading downs 1,919 to 1,305 on 241 million shares. New NYSE 52-week lows led new highs 40 to 24, while new Nasdaq highs were tied with new lows at 27 each.

9:58 a.m.: Stocks Jump as Treasuries Rally

Stocks were higher early on thanks to a rally in the Treasury market.

The benchmark 30-year Treasury bond was up 1 6/32 to 98 20/32, yielding 5.34%. Treasuries have been battered over the last couple of weeks.

The

Dow Jones Industrial Average

was up 89 to 9364. The

S&P 500

was up 17 to 1247. The

Nasdaq Composite Index

was up 42 to 2364. The

Russell 2000

was up 4 to 403.

TheStreet.com Internet Sector

was up 19 to 502.

TheStreet.com E-Commerce Index

was up 4 to 104.

Meanwhile, traders and investors are anxiously awaiting quarterly results from

Dell

(DELL) - Get Report

and

Hewlett-Packard

(HWP)

after the close.

TheStreet.com

previewed the earnings reports

this morning.

Most Up at Open -- NYSE

EMC (EMC) , up 3 5/8 to 106

.

Most Up at Open -- Nasdaq

Prodigy (PRGY) , up 5 7/16 to 40 7/8

.

Most Down at Open -- NYSE

Best Buy (BBY) - Get Report, down 1 1/4 to 86 1/4

.

Most Down at Open -- Nasdaq

First Health Group , down 1/16 to 15

.