Wall Street: A Case of Amnesia?

The stock market's rally from its late-May low of 631 on the Dow-Jones industrial average lost a bit of steam last week. Having climbed nearly 70 points since mid-August, the blue-chip indicator dropped nine points and closed at 762, reflecting profit taking, worry over possible auto and railroad strikes and concern about the danger of a new explosion in the Middle East. Despite the dip, analysts are generally cheerful. As the market moves into its traditional post-Labor Day period of reappraisal —both of economic prospects and of individual portfolios—many Wall Streeters think...

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