WALL STREET: Rocketing Stocks

WALL STREET: Rocketing Stocks

Before the Persian Gulf war began, the stock market was in deep hibernation. But after hostilities got started, and with allied victory all but certain, investors staged fireworks of their own. Last week the Standard & Poor's 500 index hit a seven-month high of 369. The Dow exploded, rising 104 points to finish the week at 2,934.65 after a 100-point gain the previous week. The market has soared nearly 17% since the war began Jan. 16, more than regaining all the territory it lost in the months after Iraq invaded Kuwait.

No abundance of good news seemed to explain the market's...

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