COMMENTARY
      There's just no stopping this market. The major indexes hit highs, not once but 
      twice during the week. The Standard & Poor's 500-stock index rose a nifty 1.5%, 
      while the Dow industrials jumped 1.7%. What is so impressive about the Dow's 
      performance is that IBM, a major Dow component, was down 6 points for the week, 
      the result of the company announcing that third-quarter earnings estimates were 
      too high. Behind the stock rally: the recent decline in interest rates, 
      continuing signs of subdued inflation, and the rebounding dollar.
      
      MARKET ANALYSIS
      
                                                              % change
      U.S. STOCKS                               Latest    Week      52-week
      DOW JONES INDUSTRIALS                     4765.5    1.7       22.3
      MIDSIZE COMPANIES (S&P MidCap Index)      217.5     1.0       23.6
      SMALL COMPANIES (Russell 2000)            316.0     1.7       22.7
      ALL COMPANIES (Russell 3000)              334.2     1.5       23.9
      
      FUNDAMENTALS                              Latest    Week ago  Year ago
      90-DAY TREASURY BILL YIELD                5.45%     5.48%     4.68%
      30-YEAR TREASURY BOND YIELD               6.52%     6.59%     7.67%
      S&P 500 DIVIDEND YIELD                    2.34%     2.37%     2.71%
      S&P 500 PRICE/EARNINGS RATIO              16.7      16.4      18.6
      
                                                  % change (local currency)
      FOREIGN STOCKS                            Latest    Week      52-week
      LONDON (FINANCIAL TIMES 100)              3570.8    0.4       15.9
      TOKYO (NIKKEI INDEX)                      18,614.3  5.6       -6.6
      TORONTO (TSE COMPOSITE)                   4586.9    0.3       5.6
      
      TECHNICAL INDICATORS                      Latest    Week ago  Reading
      S&P 500 200-day moving average            511.8     508.8     Positive
      Stocks above 200-day moving average       79.0%     77.0%r    Negative
      Speculative sentiment: Put/call ratio     0.52      0.54r     Negative
      Insider sentiment: Vickers sell/buy ratio 2.30      2.35      Neutral
      
      BLOOMBERG FINANCIAL MARKETS
      
      INDUSTRY GROUPS
      
                             % change                    % change
                            1-    12-   Strongest stock 1-    12- 
      ONE-MONTH LEADERS     month month in group        month month  Price
      1 PERSONAL LOANS      14.2  44.5  HOUSEHOLD       15.2   56.9  59 5/8
                                        INTERNATIONAL 
      2 COMMUNICATIONS      12.3  75.0  CISCO SYSTEMS   22.0  186.2  71 3/8
        EQUIPMENT 
      3 SAVINGS AND LOANS   11.5  15.4  GREAT WESTERN   14.5   19.5  23 3/4
                                        FINANCIAL 
      4 INVESTMENT          11.3  39.6  DEAN WITTER,    19.4   36.9  57
        BANKING/BROKERAGE               DISCOVER 
      5 MULTI-LINE INSURERS 11.1  38.0  AETNA LIFE      12.0   45.7  70 1/8
                                        & CASUALTY
      
                             % change                    % change
                            1-    12-   Weakest stock  1-     12- 
      ONE-MONTH LAGGARDS    month month in group       month  month  Price
      1 HOUSEWARES          -2.3  11.8  RUBBERMAID     -3.7     9.9  29 1/4
      2 SHOES               -1.9  13.0  BROWN GROUP   -22.5   -48.7  19
      3 COMPUTER SYSTEMS    -1.8  47.0  IBM           -10.8    43.7  97 1/2
      4 SPECIALTY RETAILERS -1.4  -5.0  HOME DEPOT     -5.6    -8.0  40 1/8
      5 TOYS                -1.2  23.3  MATTEL         -2.1    36.1  29 1/4
      
      MORNINGSTAR INC.
      
      MUTUAL FUNDS
      
      LEADERS                       LAGGARDS
      Four-week total return   %    Four-week total return    %
      1 FIDELITY SELECT             WRIGHT 
        COMPUTERS            12.0   EQUIFUND-SPAIN          -4.8
      2 VAN ECK ASIA                EV MARATHON 
        INFRASTRUCTURE A     11.9   GREATER INDIA           -4.7
      3 PROGRESSIVE                 DFA CONTINENTAL 
        ENVIRONMENTAL        11.8   SMALL COMPANY           -3.6
      52-week total return     %    52-week total return      %
      1 FIDELITY SELECT             WRIGHT 
        ELECTRONICS         106.3   EQUIFUND-MEXICO        -45.9
      2 GOVETT SMALLER              BT INVESTMENT 
        COMPANIES A          97.3   LATIN AMERICAN EQUITY  -36.6
      3 ALGER CAPITAL               HERCULES LATIN 
        APPRECIATION         96.4   AMERICAN VALUE         -35.0
      
      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
        $12,633     $12,433      $11,007     $10,538         $9,902
        +1.29%      +0.43%       +0.48%      +0.12%          +0.98%
      
      All data on this page are as of market close Wednesday, Sept. 13, 1995, unless 
      otherwise indicated. Industry groups include S&P 500 companies only; 
      performance and share prices are as of market close Sept. 12. Mutual fund 
      returns are as of Sept. 8. Relative portfolios are valued as of Sept. 12. 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