State of Business: $50 Billion Rally

In the six weeks since the turning point of the Cuban crisis, U.S. stock markets have staged the sharpest rally in their history. Prices of the shares listed on the New York Stock Exchange have risen $50 billion. The Dow-Jones industrial index, which closed last week at 652.10, now stands 116 points above its 1962 low and only 83 points short of the alltime high that it hit last December. Why the rally? And how long will it last?

Big Man's Market. The Russian backdown over Cuba was a tonic to the market, and it was followed by a series...

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