STATE OF BUSINESS: Surge of Confidence

Reflecting an upsurge of renewed confidence in the economy, Wall Street's rising stock market last week climbed to a new high for the year. Led by blue-chip oils, steels and chemicals, which have been largely dormant in recent months, and bolstered by spectacular gains in some new growth industries (see below), stocks in the Dow-Jones industrial average climbed 7.30 points to wind up the week at 505.60, within striking distance of the alltime 521.05 peak set last spring.

Other facts.and figures supported Wall Street's optimism. From Secretary Sinclair Weeks's Commerce Department came word that the U.S. gross national product moved...

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