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...figure out why no price surge had followed Henry Kissinger's initial claim that "peace is at hand" in Viet Nam. Then on Tuesday the rally exploded, and it proved worth waiting for. In four days of heavy trading, with volume averaging 20 million shares daily, the Dow Jones industrial average vaulted 38 points to a close of 984. That was ten points above the year's previous peak and the highest level since December 1968-just after Richard Nixon was first elected. Last week many happy Republicans were loading up with stock in anticipation of a Nixon...
...economy, which is already in the midst of an extremely healthy growth period, would probably pick up yet a bit more quickly on the psychological lifting power of a rise in consumer confidence. That in turn might light up Wall Street. The key Dow Jones industrial average after all has jumped following every wisp of a peace rumor for years. Yet strangely last week, when peace seemed closer than ever, the Dow Jones rose less than four points; the most plausible explanation that brokers could offer was that investors had largely discounted a settlement in advance. Brokers remain optimistic, agreeing...
From all outward appearances, Manhattan's Wall Street, Chicago's La Salle Street, San Francisco's Montgomery Street and other financial districts should be cheerful places. Since the beginning of the year, the Dow Jones industrial average has repeatedly bounced to near-record levels, propelled largely by recurrent talk of peace in Viet Nam. Though stock prices remained relatively flat after last week's news of a tentative settlement between Hanoi and Washington, many market analysts still hope that the Dow will quickly pierce the magic 1,000 mark once a Viet Nam cease-fire...
...high-powered public relations firms and lavish use of broadcasting, wealth often wins. One illustration is the defeat last June of a controversial proposition that would have restricted industry from polluting the air. Such firms as Bethlehem Steel, General Motors, Gulf Oil, Humble Oil & Refining, Shell Oil, Dow Chemical and Pacific Gas & Electric helped assemble a kitty of $1.4 million. This overwhelmed the $186,510 spent by a committee called the People for the Clean Environment...
...least eight occasions this year, excitement over the jet-propelled professor's whereabouts has given prices a sharp if brief boost. Some samples: on Jan. 27, the Dow Jones industrial average jumped ten points after a Kissinger news conference disclosed some details of his previously secret trips to Paris to confer with North Vietnamese negotiators. On May 3, the Dow index climbed more than eight points in the first two hours of trading on the mere rumor that Kissinger was in Paris again (then the Dow tumbled more than ten points the same day when the White House denied...