The Bull Tops 2000

A surging Dow finally clears a historic stock-market hurdle

For years it was viewed as an almost impossibly small dot on the financial horizon, a historic goal to be pursued in frustrating fits and starts. Suddenly, in 1986, the target became closer and more tantalizing. As 1987 brought a fresh frenzy of trading on the New York Stock Exchange, everyone on Wall Street, as well as investors across the U.S. and around the world, was caught up in the drama: Just when would the Dow Jones industrial average gather its full force and break through the psychologically portentous barrier of 2000?

Last week, more than 14 years after the Dow...

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