The U.S. stock market climbed to new highs, with the Dow Jones industrial 
      average climbing above 3900 for the first time on Jan. 21. A rally in 
      economically sensitive stocks sustained the market, with Caterpillar leading 
      the pack because of better-than-expected earnings. Broad-based indexes and 
      small-cap stocks also posted records. The blue chips cooled a bit on Jan. 25, 
      when IBM reported disappointing earnings. Japanese stocks tumbled on Jan. 24 
      after defeat of a political-reform plan.
      
      
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