Word: spurted
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There are still soft spots in the recovery. Housing starts, after a spurt in May, slumped back in June to a moribund pace of little more than a million a year. Corporate spending on new plant and equipment remains low, and the unemployment rate is still a worrisome 8.6%. Interest rates, whose recent declines had helped lift the economy, have begun to rise again...
Underlying all of the institutional buying is greater confidence that the economic recovery now taking shape will continue and that the market is not just enjoying a temporary spurt before the Dow worries itself back down to the 500s. Warnings that prices will collapse again can still be heard along Wall Street, chiefly among chartists. But they are outnumbered by newly optimistic money managers who predict that the industrial average will at least break through 900 by year's end, though probably not without a downward stumble of 10% to 25% in stock values at some point along...
Unwanted Crisis. The policy debate within Israel is bound to grow more bitter, especially since recent polls indicate that 75% of Israelis do not believe their government is doing enough to defend its position abroad. For that matter, 50% do not feel that the Cabinet, despite Rabin's spurt in popularity, has adequately explained its views at home. As the right and left become more strident, that could precipitate an untimely and unwanted political crisis...
Attackman Bill MacKenzie scored three of his four goals during this initial spurt, while midfielders Bruce Bruckmann and Kevin McCall added the others...
...Prek Phnou, which is only eight miles from Phnom-Penh, three T-28s dropped napalm on a paddyfield, causing orange flames to spurt across the open area. Three Cambodian youths in ragtag uniforms came trudging down a dirt road; one wore a purple bandanna around his head, another a Pathet Lao peaked cap from Laos, and the third had on a fatigue jacket and red bathing trunks. But all three carried M-79 grenade launchers slung across their slender shoulders...