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Will the 1985 rally continue? As always, Wall Street opinion is divided. Says Peter Furniss, a senior vice president at Shearson Lehman Bros.: "This is like a frat party. We're having fun now, but soon somebody is going to call the cops, and the party will be over." Furniss predicts that the Dow may retreat to 1245 before making another bullish move. Richard McCabe, market- analysis manager for Merrill Lynch, disagrees, forecasting that the Dow will hit 1300 this month. McCabe believes that several stock groups are still bargains. Among them: companies in the paper, chemical and aluminum industries...
PRINCE AND THE REVOLUTION: PURPLE RAIN (Warner Bros.). Maybe the greatest original sound-track score since rock came to movies...
...Hennessy two weeks ago flew an additional 24,000 bottles of its prestige brand Dom Pérignon (retail price: about $40) to New York City. "Business has always been good, but lately it is exploding," says Gary Heck, chairman of California's F. Korbel & Bros., an industry leader. "Americans are all buying bubbles...
Rickie Lee Jones: The Magazine (Warner Bros.). Rickie Lee Jones was unique and wholly left field even when she had a surprise hit, Chuck E.'s in Love, from her debut album back in 1979. She sounded like a saloon singer with Listerine in her shot glass and wrote songs that came off like juke joint Kerouac. This is only her third full album, and she seems bent on proving, quite unnecessarily, what she has already established: she is the most enterprising woman writer making records today. The Magazine, a spiraling cycle of songs organized around themes of loneliness...
...Souther: Home by Dawn (Warner Bros.). Smooth ballads and caustic rockers about misfired romance and misguided adventure by one of the most adept exponents of what has come to be known, somewhat derisively, as "the L.A. sound." Back in the mid-'70s, Los Angeles was the capital of cool, and Souther and the Eagles were the cornerstones of close harmony and acrid social observation. Punk and new wave blew this kind of music out of the water, or at least seemed to. But the substance of new wave could not always keep pace with the style, which...