STATE OF BUSINESS: Echoes of Confidence

For those businessmen concerned about the U.S. economic mood midway in 1957, a prime indication of the nation's confidence came last week from Wall Street. After floundering aimlessly over the last fortnight, the stock market surged forward, shrugging off all reports of soft spots and vacation shutdowns, the long holiday weekend and other normally depressing factors. In the kind of selective trading that has become the trademark of 1957's bull market, investors sent International Business Machines up 21 points in two days to a new high of 358; Alcoa went to 101 for a 21% gain over the year's low,...

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