The Pre-Invasion Market

The Pre-lnvasion Market

On D-day minus one, a happy Wall Streeter cried: "The market has recovered from the invasion jitters." Next day came the invasion, and all market-guessing was 100% off. No one could tell how the market would eventually settle. But in the first few hours the market was rising, and many a stock hit new highs for the year.

There had been plenty of reason for optimism. Since March, the New York Stock Exchange has quivered on every D-day rumor. But last week, taking its courage firmly in hand, the Exchange:...

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