The Dow Jones industrials surged to a new high of 3567.7 on July 26, but gave 
      up the gains and finished the week virtually unchanged--as did the broader S&P 
      500. Midsize companies, however, fared better than those larger or smaller; the 
      S&P Midcap Index gained 1.2%. Long-term interest rates backed up, as some bond 
      traders took profits from the recent rally. Also spooking the bond crowd was 
      Fed Chairman Alan Greenspan's threats to raise interest rates if inflation 
      kicks up.
      
      MARKET ANALYSIS
                                                      % change
      U.S. STOCKS                               Latest   Week   52-week
      DOW JONES INDUSTRIALS                     3553.5   -0.1   5.2
      MIDSIZE COMPANIES (S&P MidCap Index)       166.9   1.2   14.8
      SMALL COMPANIES (Russell 2000)             236.0   0.5   22.3
      ALL COMPANIES (Russell 3000)               257.8   0.1   8.7
      
                                                          % change (local currency)
      FOREIGN STOCKS                            Latest   Week   52-week
      LONDON (FINANCIAL TIMES 100)              2884.2   2.5    19.0
      TOKYO (NIKKEI INDEX)                    19,829.6  -1.3    31.4
      TORONTO (TSE COMPOSITE)                   3923.1   1.4    14.6
      
      FUNDAMENTALS                              Latest  Week ago  Year ago
      90-DAY TREASURY BILL YIELD                3.15 %   3.14 %   3.25 %   
      30-YEAR TREASURY BOND YIELD               6.65 %   6.63 %   7.45 %   
      S&P 500 DIVIDEND YIELD                    2.79 %   2.80 %   3.01 %   
      S&P 500 PRICE/EARNINGS RATIO              21.3      21.2      24.6      
      
      TECHNICAL INDICATORS                      Latest   Week ago      Reading
      S&P 500 26-week moving average             445.9      445.6      Positive   
      Stocks above 26-week moving average         55.8 %     56.8 %    Negative   
      Speculative sentiment: Put/call ratio       0.51       0.53      Positive   
      Insider sentiment: Vickers sell/buy ratio   2.32       2.30      Neutral   
      BRIDGE INFORMATION SYSTEMS INC.
      
      INDUSTRY GROUPS
                              % change       Strongest            % change
      FOUR-WEEK LEADERS   4-week   52-week   stock in group   4-week  52-week   Price
      TRANSPORTATION 
      SERVICES              12.1   33.0      PITTSTON SERVICES 
                                             GROUP             25.8   30.9     20 1/8
      HOSPITAL MANAGEMENT   11.5    3.1      GALEN HEALTH CARE 13.6   74.0     20 7/8
      HOTELS AND MOTELS      8.8   82.6      PROMUS            18.2  314.6     56 3/4
      HARDWARE AND TOOLS     7.9   13.9      SNAP-ON TOOLS     10.7   39.2     42 5/8
      ALUMINUM               7.7   -2.1      REYNOLDS METALS   13.9  -10.3     51 1/4
      
                               % change      Weakest             % change
      FOUR-WEEK LAGGARDS   4-week   52-week  stock in group   4-week   52-week Price
      APPAREL MANUFACTURING-15.7   -18.3     LIZ CLAIBORNE    -28.5  -33.6     22   
      COMMUNICATIONS 
      EQUIPMENT            -14.5   -3.8      NORTHERN TELECOM -25.1  -38.7     21 5/8
      COMPUTER SYSTEMS     -12.4  -39.2      APPLE COMPUTER   -34.0  -42.2     26 1/2
      STEEL                -10.9   25.1      BETHLEHEM STEEL  -20.1   12.3     14 7/8
      MACHINE TOOLS         -9.5   16.2      GIDDINGS & LEWIS -10.3  -14.3     19 1/2
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      
      LEADERS                                  LAGGARDS
      Four-week total return               %   Four-week total return             %
      LEXINGTON STRATEGIC INVESTMENTS   10.0   FIDELITY CANADA                  -6.4
      UNITED SERVICES WORLD GOLD         8.8   EQUITY STRATEGIES                -6.2
      PROGRESSIVE AGGRESSIVE GROWTH      7.5   PUTNAM ENERGY-RESOURCES          -5.9
      
      52-week total return                 %   52-week total return                %
      LEXINGTON STRATEGIC INVESTMENTS   86.8   INVESCO STRATEGIC HEALTH 
                                               SCIENCES                        -14.6
      PBHG GROWTH                       77.9   FIDELITY SELECT HEALTH CARE     -13.5
      THOMSON OPPORTUNITY A             56.9   INVESCO STRATEGIC 
                                               ENVIRONMENTAL SVCS.             -13.3
      DRI/McGRAW-HILL
      
      RELATIVE PORTFOLIOS
      
      Foreign stocks   Treasury bonds   U.S. stocks   Gold   Money market fund
           $13,288       $11,970         $11,042     $10,937     $10,231
            +1.11%        -1.50%          +0.21%      +0.06%      +0.05%
      
      Dollar amounts
      represent the present value of $10,000
      invested one year ago in each portfolio
      Percentages indicate
      five-day total returns
      
      All data on this page are as of market close Wednesday, July 28, 1993, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close July 27. Mutual fund 
      returns are as of July 23. Relative portfolios are valued as of July 27. A more 
      detailed explanation of this page is available on request.
      
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