Dow Adds 37.93 Points To Record Run

Wall Street’s winning streak continued Tuesday, with the Dow Jones industrials average setting its 67th record for the year and broader market indexes mostly higher on hopes of further cuts in interest rates.

The Dow Jones industrials rose 37.93 to 5,177.45, marking the second-straight close at an all-time high.

The New York Stock Exchange’s composite index and the Standard & Poor’s 500-stock index also rose to record levels.

“This market is continuing its bullish charge upward,” said Alfred E. Goldman, vice president at A.G. Edwards & Sons Inc. in St. Louis. “It’s hinged on the fact that we see a good economy in 1996 and good corporate earnings.”

Advancing issues led decliners by about 13 to 9 on the NYSE. Volume totaled 434.00 million shares as of 4 p.m., vs. 405.09 million Monday.

A decline in technology shares, however, weakened the Nasdaq composite index, sending it down 3.90 to 1,065.89.

Some of the stocks moving substantially or trading heavily:

NYSE

Bausch & Lomb, down 2-5/8 at 35-3/8.

The Rochester, N.Y.-based optics and health products maker said it will cut administrative costs by $50 million and freeze executive salaries as part of a three-year plan to stimulate growth in its core businesses.

Rubbermaid, up 5/8 at 27-1/2.

The Wooster, Ohio-based company will streamline its manufacturing and distribution processes, resulting in nine fewer facilities and a 9 percent reduction in its worldwide work force. The maker of plastic and rubber products said the moves are expected to save about $50 million annually.

Abbott Laboratories, up 3/4 at 40-3/8.

The Abbott Park, Ill.-based company announced late Monday that it will give its experimental AIDS drug ritonavir to 2,000 people who are in late stages of the disease.

Goodyear, up 1-3/8 at 44-1/4.

The Akron, Ohio-based maker of tire and rubber products named its president and chief operating officer, Samir F. Gibara, to the additional post of chief executive, effective Jan. 1. The company said Stanley C. Gault will remain chairman until June 30, 1996.

NASDAQ

Acclaim Entertainment, down 6-7/8 at 12-5/8.

The Glen Cove, N.Y.-based video game and comic book company said it is restating its latest quarterly profit downward by 63 percent as it defers revenues until certain products are actually shipped.

Integrated Silicon Solution, down 3 at 17-1/4.

Alex. Brown & Sons Inc. and Donaldson Lufkin & Jenrette Securities Corp. reportedly downgraded the Sunnyvale, Calif.-based company.