STATE OF BUSINESS: A Little Bounce

For weeks the Wall Street bullshave been impatiently waiting for the market's traditional "summer rise." Last week, after two listless, post-holiday trading sessions the market bounced upward 4.52 points on the Dow-Jones industrial average for the biggest gain in a month, closed out the week up another 2.02, at 646.91. Whether or not this little bounce would prove the beginning of the summer rise, the surprising and heartening factor in the market's advance was that steels led the way. For the week, U.S. Steel rose 3¼, and Jones & Laughlin, Lukens and Youngstown Sheet & Tube all rose between...

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