The Nasdaq composite index rose 2 percent to its highest point in two years and the Dow Jones industrial average picked up more than 130 points.

Positive high-tech news and a Federal Reserve governor’s suggestion that interest rates might remain low sent stocks soaring as many traders got back to work after the holidays. But analysts noted that Wall Street was also following its tendency to rise during the first weeks of the year, and that the market’s momentum has carried over from 2003.

"The big picture is still the bull market," said Alfred E. Goldman, chief market strategist with A.G. Edwards & Sons Inc. in St. Louis.

According to preliminary calculations, the Nasdaq composite index closed up 40.68 at 2,047.36, after a gain of 1.7 percent last week. It was the Nasdaq’s highest close since Jan. 8, 2002, when it closed at 2,055.74.

The Dow closed up 134.22, or 1.3 percent, at 10,544.07, after a 0.8 percent rise last week. The index of 30 actively traded industrials last closed higher on March 19, 2002, at 10,635.25.

The Standard & Poor’s 500 index closed up 13.74, or 1.2 percent, at 1,122.22, following a weekly rise of 1.1 percent. It was the S&P’s highest close since April 19, 2002, when it ended the day at 1,125.17.