The Economy: What Peace Might Bring

Like General Sherman, most U.S. investors are convinced that war is something less than heaven. Last week, ignoring the normally bearish portents of monetary upheavals abroad and higher interest rates at home, Wall Street's customers seized on rumors of brightened peace prospects in Viet Nam to continue the stock market's best rally in more than a year. The Dow Jones industrial average rose four points to close at a year's high of 961.61. All told, the 38-point rise since late April was the Dow's best performance since 13 months ago—when peace talk...

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