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Stock Market Nears Historic Highs Driven By Tax Cut Hopes
The 1963 stock boom fanned by President Kennedy and Treasury plans for a broad tax cut fueled expectations for growth into 1964. Analysts cited dividends rising at General Motors RCA IBM Texaco and Xerox and a rebound in steel and construction as drivers despite inflation fears and a looming recession risk. The Dow Jones crested new highs as the market absorbed shocks from Haupt & Co. and Williston breaches, then surged after Kennedy's assassination and the NYSE aid to Haupt customers.
MENTIONED IN THIS ARTICLE
John F. Kennedy
Kennedy
the Treasury
Douglas Dillon
General Motors
Standard
N.J
RCA
Don Edison
General Foods
IBM
Texaco
Woolworth
du Pont
Xerox
Chrysler
American Telephone
Wall Street
Washington
Wallstreeters
Bears
New York Stock Exchange
Ira Haupt & Co
France
Great Britain
SEC
Congress
Grand Jury
J. R. Williston & Beane, Inc
Williston
Haupt
NYSE
Dow-Jones Industrls
Johnson