State of Business: Earnings: Up

After two months of milling around indecisively, U.S. investors last week went on a buying spree that sent the stock market charging up. On one day alone, a record 1,360 issues were traded on the New York Stock Exchange, well over 6,000,000 shares changed hands, and the Dow-Jones industrials index climbed 9.14 points to 723.74—just a shade below its alltime peak of 726.53 in early September. At week's end, still on the rise, the market was up to 724.83.

Wall Street professionals found plenty of reasons for the rise: brisk auto sales, some cooling of the Berlin crisis, and the expectation...

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