Dow Rises 52 Points to Close at Record 7976: Late Surge Lifts Stock ...
NEW YORK, July 15ÛÓA late surge carried the Dow Jones industrial average within 25 points of the 8000 mark today, and the Nasdaq Stock MarketÛªs rally continued after another strong profit report from a leading technology company.</br></br>The 30-stock Dow average rose 52.73 points to close at 7975.71, erasing a 44-pt)lnt afternoon deficit to beat last TuesdayÛªs record finish of 7962.31.</br></br>The Nasdaq composite index closed at-a'record high for the ninth consecu-thie'session as bellwether technology shares surged again after a stronger-than-'expectcd second-quarter earnings statement by Texas Instruments.</br></br>Despite the daylong strength in technology shares, stocks were mostly lower until midaltemoon, when bond market interest rates eased after a report alleviated mild concerns that consumer activity was picking up at an inflationary pace. The recovery in bonds was far less pronounced, however, than the ensuing rebound in the stock market ÛÏI would have drought [investorsl would wait until after eamings-reporting season to see what happens and react accordingly. But itÛªs off to the races again," said Robert Streed, senior investment adviser at Northern Trust in Chicago. ÛÏThe stock market has a positive bias."</br></br>Advancing issues outnumbered declining ones by a lO-to-9 margin on the New York Stock Exchange, where vol-