WALL STREET: Six-Month High

Said a puzzled broker last week: "People have been waiting for a reaction. When it doesn't come they get restless and buy anyway." He was talking about a phenomenon that baffled but delighted brokers last week. For three days more than 1,000,000 shares changed hands on the New York Stock Exchange. More, the market turned in the best Saturday (680,320 shares) since last September. Net result: a three-and-a-half-point rise in the Dow-Jones industrials average, to a six-month high.

Causes. Most widely cited "reasons" for the sudden upsurge (all pure Wall Street guesswork):

¶ That...

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