WALL STREET: Profitless Prosperity

From all outward appearances, Manhattan's Wall Street, Chicago's La Salle Street, San Francisco's Montgomery Street and other financial districts should be cheerful places. Since the beginning of the year, the Dow Jones industrial average has repeatedly bounced to near-record levels, propelled largely by recurrent talk of peace in Viet Nam. Though stock prices remained relatively flat after last week's news of a tentative settlement between Hanoi and Washington, many market analysts still hope that the Dow will quickly pierce the magic 1,000 mark once a Viet Nam cease-fire is actually signed. In...