For a change last week the stockmarket went up. It was no whooping rally; the Dow-Jones industrial averages showed a net gain of less than 3 points for the week. Daily trading on the New York Stock Exchange never reached 1,000,000 shares.* Yet Wall Street had what Owen D. Young calls a "feeling in the seat of the pants" that the market had turned a corner. From a recovery high early in March to their low in June the Dow-Jones industrials dropped approximately 15%, from 194.4 to 165.5. By last week they were back...
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