STOCK MARKET: Pointing for a Record

A brief case of jitters shook some of the Stardust out of the stock market last week but failed to halt the long upswing of the past four months. The main cause of concern: a rise in short-term interest rates, which signaled an apparent mild switch in the Federal Reserve Board's easy-money policy. Now, to stem the flow of dollars abroad, the board has decided to let short-term rates edge up.

Though a rate rise had been anticipated, the news moved many investors to sell. On the first day of trading last week, the Dow Jones industrial average plunged eleven...

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