STOCK MARKET: Cracking a Magic Barrier

IN the past seven years, the 1000 mark on the Dow Jones industrial average has become a kind of mystical barrier in the minds of investors. The market's most closely watched barometer began flirting with 1000 as early as January 1966, but it always fell back without closing above that figure—to the chagrin of Wall Streeters who hoped that a widely ballyhooed breakthrough would give a big boost to public confidence in the market and usher in a new era of prosperity for the securities business. Last week, however, the Dow finally...

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