It was a historic week for Wall Streeters. Led by such blue chips as U.S. Steel and Standard Oil (N.J.), the Dow Jones industrial average broke through the 520 level that has been a barrier three times before, climbed to an alltime record high of 526.57 before settling back to 526.43. What gave the market its record-breaking push was the same combination of improving business news, institutional buying and fear of inflation that has sent it on one of the steepest climbs in history.

Where will the market go now? Though the rise...

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