Wingding On Wall StreetJeffrey M. Laderman
Explosive stock market rallies have a way of creeping up on investors. And for most of this summer, Wall Street didn't expect much upside action. Nonetheless, from Aug. 23 to Aug. 31, the Dow Jones industrial average racked up 162 points, or 4.3%, to close above 3913, its highest point in more than six months and only 1.7% below the 3978 record set on Jan. 31. Some old-timers ask: Could this be a repeat of August, 1982, when an out-of-the-blue surge kicked off the 1980s bull market?
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