NEW YORK - WALL Street shares powered higher on Thursday to extend their rally amid growing optimism on prospects for economic recovery as the market shook off the latest grim reminders of the depth of the slump.

The Dow Jones Industrial Average vaulted 174.75 points (2.25 per cent) to 7,924.56 at the closing bell, extending the rally that has pushed the blue-chip index up more than 20 per cent from March 9 lows.

WATFORD (England) - DAVID Beckham credits his move to AC Milan with putting him on the verge of becoming England's most capped outfield player.

The 33-year-old midfielder will make his 109th appearance for England if he plays in Saturday's friendly against Slovakia at Wembley, surpassing the record he shares with 1966 World Cup winning captain Bobby Moore.

ROME - FERRARI president Luca Cordero di Montezemolo is feeling confident ahead of the new Formula One season, which begins in Melbourne on Sunday.

Ferrari are the reigning constructors champions while Felipe Massa came within one corner of taking the drivers' title as well last season before losing out by just a point to Lewis Hamilton.