The Dow Jones industrial average crawled to a record high Tuesday, thanks to investors betting on improved economic growth. But fears of higher interest rates and a general malaise among some professional investors helped temper the overall results.

The Dow Jones industrial average closed up 8.67 points to 3718.88 in active trading on the New York Stock Exchange. Among the 30 blue-chip stocks that comprise the Dow industrials, Sears, Roebuck gained $2.12, to $54.25. Investors apparently see more good news to come in the Sears merchandising turnaround, now more than a year in the making, as well as an upbeat Christmas generally.

On the other hand, several well-known stocks that have been laggards this year continued to breathe life into the aging bull market. Among the most-active Big Board stocks posting gains Tuesday were WMX Technologies, Boeing, Philip Morris and RJR Nabisco, none of which has had a spectacular year.