NEW YORK — Wall Street extended its November rally yesterday, carrying the Dow Jones industrials to a new trading high as investors anticipated a business-friendly outcome of the mid-term elections and bought stocks across the market.

Boeing Co. led the blue chips after winning a $2.3 billion order from FedEx Corp. Strong quarterly reports from both Toyota Motor Corp. and Emerson Electric Co. also lent strength to the market.

"You're not going to have runaway spending increases, you won't have a repeal of the Bush tax cuts, and there's no legislative change that will roil industries. The green light is on for equity investments because you've got protection against any major changes," said Charles Gabriel, senior Washington analyst for Prudential Securities.

The Dow rose 51.22, or 0.42 percent, to 12,156.77, building on Monday's 119-point gain.

The jump in stocks comes after the Dow had its best day in a month on Monday, soaring as a spate of merger announcements soothed investors who worried last week about an economic slowdown. The two-day rally shows investors remain resilient, and feel the market still has more room to advance.

Boeing rose $4.37, or 5.4 percent, to $84.85 after FedEx announced it will acquire 15 new 777 freighter aircraft, with options to double that order. FedEx said it decided to buy the Boeing aircraft after rival Airbus announced significant delays for delivery of its A380 jets.

Advancing issues outnumbered decliners by about 3 to 2 on the New York Stock Exchange, where consolidated volume came to 2.69 billion shares, compared with 2.53 billion on Monday.