COMMENTARY
      The S&P and the Dow sagged  but the smaller-cap indexes posted slight gains, 
      with the NASDAQ composite retaking the 1000 mark. There was some disappointment 
      at the reception to the Treasury's Aug. 8 auction of three-year notes. However, 
      the next day, the $13 billion, 10-year note sale went great guns. Still, that 
      didn't help stocks. The market may be in for some rough sledding. Note the four 
      technical indicators shown on this page-only one is pointing upward.
      
      MARKET ANALYSIS
      
                                                            % change
      U.S. STOCKS                             Latest    Week     52-week
      DOW JONES INDUSTRIALS                   4671.5    -0.4     24.0
      MIDSIZE COMPANIES (S&P MidCap Index)    206.3     0.6      19.4
      SMALL COMPANIES (Russell 2000)          299.6     0.6      21.6
      ALL COMPANIES (Russell 3000)            321.1     0.3      21.5
      
      FUNDAMENTALS                            Latest    Week ago Year ago
      90-DAY TREASURY BILL YIELD              5.53%     5.57%    4.43%
      30-YEAR TREASURY BOND YIELD             6.92%     6.86%    7.57%
      S&P 500 DIVIDEND YIELD                  2.38%     2.39%    2.77%
      S&P 500 PRICE/EARNINGS RATIO            16.2      16.4     18.7
      
                                                % change (local currency)
      FOREIGN STOCKS                          Latest    Week     52-week
      LONDON (FINANCIAL TIMES 100)            3468.3    -0.9     9.5
      TOKYO (NIKKEI INDEX)                    16,789.3  0.4      -19.2
      TORONTO (TSE COMPOSITE)                 4623.9    0.6      10.0
      
      TECHNICAL INDICATORS                    Latest    Week ago Reading
      S&P 500 200-day moving average          499.8     497.4    Positive
      Stocks above 200-day moving average     75.0%     75.0%    Negative
      Speculative sentiment: Put/call ratio   0.59      0.60r    Negative
      Insider sentiment: Vickers
       sell/buy ratio                         2.28      2.24     Neutral
      
      BLOOMBERG FINANCIAL MARKETS
      
      INDUSTRY GROUPS
      
                               % change                    % change
      ONE-MONTH LEADERS       1-    12-   Strongest stock 1-    12-
                              month month in group        month month Price
      1 HOSPITAL              13.6  18.4  COLUMBIA/HCA    15.3  26.4  49 1/8
        MANAGEMENT                        HEALTHCARE
      2 HEALTH-CARE SERVICES  10.3  37.0  MANOR CARE      18.4  35.0  33 3/4
      3 PUBLISHING             8.1   5.1  MEREDITH        32.7  46.5  33 1/2
      4 BROADCASTING           8.0  28.6  CBS             17.5  27.8  78 3/4
      5 SHOES                  8.0  20.7  STRIDE RITE     13.4 -21.2  11 5/8
      
                               % change                    % change
      ONE-MONTH LAGGARDS      1-    12-   Weakest stock   1-    12-
                              month month in group        month month Price
      1 STEEL                 -14.9 -19.3 NUCOR           -18.0 -22.9 51 3/4
      2 HOMEBUILDING          -11.2   7.5 KAUFMAN & BR0AD -13.1  -7.8 13 1/4
                                          HOME
      3 METAL AND GLASS        -8.7  28.5 CROWN CORK      -10.3  26.6 44 5/8
        CONTAINERS                        & SEAL
      4 SPECIALTY APPAREL      -8.6 -10.8 THE LIMITED     -11.2   0.7 18 7/8
        RETAILERS
      5 OIL AND GAS DRILLING   -7.6  -2.6 ROWAN            -9.5 -12.3  7 1/8
      
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      
      LEADERS
      Four-week total return        %   52-week total return       %
      1 WASATCH MICRO-CAP         12.1  STEADMAN AMERICAN        -8.7
                                        INDUSTRY
      2 FIDELITY SELECT                 STEADMAN
        MEDICAL DELIVERY          11.7  INVESTMENT               -4.8
      3 AMERICAN HERITAGE GROWTH   9.4  REMBRANDT ASIAN          -3.9
                                        TIGERS INV.
      
      LAGGARDS
      Four-week total return         %  52-week total return       %
      1 SELIGMAN COMMUNICATIONS         WRIGHT
        & INFORM. A               114.5 EQUIFUND-MEXICO         -45.2
      2 FIDELITY SELECT                 STEADMAN
        ELECTRONICS                94.8 AMERICAN INDUSTRY       -30.6
      3 ALGER CAPITAL APPRECIATION 94.0 BT INVESTMENT LATIN     -30.1
                                        AMERICAN EQUITY
      
      DRI/McGRAW-HILL
      
      RELATIVE PORTFOLIOS
      
      Dollar amounts represent the present value of $10,000 invested one year ago in 
      each portfolio
      
      Percentages indicate five-day total returns
      
        U.S.       Treasury    Foreign    Money
        stocks     bonds       stocks     market fund    Gold
        $12,506    $11,583     $11,040    $10,531        $10,183
        +0.13%     +0.38%      -0.58%     +0.13%         +0.43%
      
      All data on this page are as of market close Wednesday, Aug. 9, 1995, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Aug. 8. Mutual fund returns 
      are as of Aug. 4. Relative portfolios are valued as of Aug. 8. A more detailed 
      explanation of this page is available on request. r=revised NA=Not available
      
Before it's here, it's on the Bloomberg Terminal. LEARN MORE