NEW YORK — The Dow Jones industrial average reached a milestone yesterday in Wall Street's nearly seven-year recovery from corporate upheaval, economic recession and terrorism, briefly trading above its record-high close of 11,722.98 set on Jan. 14, 2000.

The index of 30 blue-chip stocks surpassed its record, rising to a high of 11,728.46 in early morning trading. Stocks closed only modestly higher amid a dearth of news that could motivate investors; still, it was the market's fourth straight advance.

The Dow rose 29.21, or 0.25 percent, to 11,718.45. It has yet to reach its all-time trading high of 11,750.28, also set Jan. 14, 2000.

The broader Standard & Poor's 500 and Nasdaq composite indexes are far off their all-time highs, although their records were reached around the same time.

Bonds fell yesterday, with the yield on the 10-year Treasury note at 4.61 percent, up from 4.59 percent. The dollar rose against other major currencies. Gold prices also rose.

Crude oil futures fell. A barrel of light crude settled at $62.76, down 20 cents, on the New York Mercantile Exchange.

Advancing issues led decliners 8 to 7 on the New York Stock Exchange, where consolidated volume was 2.36 billion shares, down from 2.76 billion Wednesday.