INFLATION: Strong-Man Act

The stockmarket put on a strong-man act last week. Defying the worst flood of news since the fall of France (when equities nose-dived more than 30 points), the venerable Dow-Jones industrial averages rose $1.09 while the British were fleeing toward Alexandria, 76¢ more when Auchinleck began to halt the Rommel rush on Friday. Stocks went up $1.04 the day Hitler captured Sevastopol: 67¢ in the two days it took his African troops to capture Matrûh.

Individual issues did even better. In five trading days last week Atchison, Topeka & Santa Fe rose 4⅞; Sears, Roebuck 3⅛ American Telephone 3; Atlantic...

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