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...Wall Street seems to believe the Administration on that subject any more-on May 12 a "Melvin Laird rally" of stock prices, spurred by his assurance that all ground forces would be out of Asia by June, 1971 lasted only a few hours. The Dow Jones Industrials, the most widely published index of market prices, closed 5.48 lower than it had opened that morning...
...businessman's President has made several attempts to coax stock prices upward and offer an illusion of prosperity. On April 28, after the Dow closed at 724.33, the lowest since the day John Kennedy was killed. Nixon spoke of his absolute faith in the economy and said that he would, himself, be buying stocks now if he had money to spare. Presumably investors were to believe in Nixon and buy stocks, making the market rise . . . By May 5 the Dow Jones Industrials had fallen to 709.81. And the Dow closed Friday...
...Dow-Jones industrial average, which had plunged nearly 50 points in the five previous trading days, started to surge for the first time in five weeks. The rise was soon interrupted by the Defense Department's announcement that the U.S. would provide aid to South Vietnamese fighting in Cambodia. But the rally picked up steam again and was slowed only a bit by the President's televised pronouncement that U.S. troops were on the attack in Cambodia. The general feeling was that if the operation turns out to be limited and surgical, it will not overaffect the market...
...stock market, which knows a bad thing when it sees it, dropped like a stone last week. The Dow-Jones industrial average tumbled 29 points to close at 747, barely above January's six-year low of 744. Many stocks seemed "oversold," but few investors as yet had the nerve or confidence to buy. The market's decline partly reflected investors' anxiety about which of several turns the economy may be taking: toward outright recession, possibly combined with continued inflation; toward moderate growth and a gradual simmering down of price rises; or toward what is coming...
...firebomb thrown through the win-Dow of a ROTC building at Oregon State did little damage. But in Geneva, N. Y., a firebomb heavily damaged a ROTC building at Hobart College. A student was arrested and charged with arson...