THE MARKETS

Hopes of lower interest rates spurred the Dow Jones industrial average to a record high for the second day in a row. The Dow finished the day up 18.31 points, to close at 4,765.52, up from yesterday's close of 4,747.21. The Nasdaq composite index rose 3.10 today, ending the day at 1,068.10. In the broader market, advancers led decliners 1,178 to 1,050 in active trading on the New York Stock Exchange. The New York Stock Exchange composite index rose 1.04 to 310.38. The Standard & Poor's 500 stocks also rose today, ending the day at 578.77, up 2.26. In London, gold was up slightly, $0.10, to close at $384.85.