Flying Higher

Sniffing the heady air of inflation. Wall Streeters found almost all news good news last week. Though the steel strike squeezed off production in plant after plant, the market pushed right on up. In the climb, both cheap stocks and blue chips scampered. Du Pont hit 204 for the first time since 1929.

Stock buyers were betting that the steel strike, and others, may be settled with inflationary price and pay raises all around. At week's end, the Dow-Jones industrial average stood at 206.97, highest since 1930.

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