State of Business: Damage Survey

After a month of dispensing gloom, the stock market finally gave Wall Streeters something to smile about last week—the kind of smile that comes only because the pain is a little less painful than before. On Thursday, June 28, stock prices staged their biggest rally since the brief rebound right after May 28's Blue Monday. In the third largest one-day jump on record, the Dow-Jones industrial average zoomed 20.37 points to 557-35. Next day it rose again modestly to close the week at 561.28.

The rally spread right across the board; more than 1,000 of the 1,500 stocks listed on...

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