A Wealth of Upbeat Signals

Evidence mounts that the doldrums are finally coming to an end

New Year's Eve revelry began early for the U.S. economy last week. It arrived amid growing signs that the economic doldrums of the past six months are coming to an end. The mounting evidence strongly enhanced the holiday mood. Said Edward Yardeni, chief economist for Prudential-Bache: "There is no reason to fear a recession."

The loudest cheers over the brightening outlook came from Wall Street, where stocks had been sliding. On Tuesday the bulls broke loose again: the Dow Jones industrial average jumped 34.78 points, to record its best gain since Aug....

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