THE Dow Jones industrial average continued its climb back today, rallying more than 101 points to erase the remaining damage from a two-day slide on inflation worries. On Wall Street, the average rose to 6,544.09.

Analysts said investors, emboldened by Thursday's late come-back, were out in force. Advancing issues outnumbered decliners by a 5-to-2 margin on the New York Stock Exchange, with 1,861 up, 744 down and 723 unchanged.

NYSE volume totalled 451.95 million shares, against 462.32 million in the previous session.

The NYSE composite index rose 4.53 to 394.06, and the American Stock Exchange composite index rose 3.29 to 572.45.